Loeffler is likely the wealtheist member of Congress, and her husband, Jeff Sprecher, is CEO of the company that owns the New York Stock Exchange. She is widely expected to self-fund her campaign and had already seeded her campaign with a $5 million loan before she took office.
„I’m not doing this because I have to,“ Loeffler wrote in a Wall Street Journal op-ed. „I’ve done everything the right way and in compliance with Securities and Exchange Commission regulations, Senate ethics rules and U.S. law. I’m doing it because the issue isn’t worth the distraction. My family’s investment accounts are being used as weapons for an assault on my character at a time when we should all be focused on making our country safe and strong.“
Loeffler is on the ballot in a November special election after she was appointed to replace Sen. Johnny Isakson, who resigned last year due to health concerns. The race is an all-party contest, with Democrats and Republicans on the same ballot, and will go to a January runoff if no candidate receives a majority of the vote.
GOP Rep. Doug Collins is also running, and he has been extremely critical of Loeffler’s stock trades in recent weeks. Three Democrats are also running in the race, which could be critical to which party controls the Senate majority next year.
Collins’ campaign slammed Loeffler in a statement shortly after her announcement. „This is essentially a guilty plea, and Georgians who just saw their retirement plans crater while she profited are not going to agree to the plea deal,“ said Dan McLagan, a Collins spokesperson. „She’s less credible than the Chinese government. Same advisers, different funds and no blind trust? We’re not buying it.“
Helen Kalla, a spokesperson for the Democratic Senatorial Campaign Committee, said in a statement Loeffler’s decision would not undo damage to her image among Georgia voters.
„No matter what PR stunt she comes up with, Sen. Loeffler can’t sweep her spiraling stock scandal and the questions it’s raised under the rug,“ Kalla said.
Loeffler said in a statement her portfolio was managed by outside investment advisers at Morgan Stanley, Goldman Sachs, Sepio Capital, and Wells Fargo. She said those investment decisions were made „without our input, direction or knowledge.“ She said those advisers would liquidate those holdings, and the proceeds would be „reinvested into ETFs and mutual funds.“
Source: politico.com
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