Coronavirus Sars-CoV-2/Covid-19 Megathread

[FunkMonk]

https://www.thedailybeast.com/sen-kelly-loeffler-dumped-millions-in-stock-after-coronavirus-briefing

Sen. Kelly Loeffler (R-GA) reported the first sale of stock jointly owned by her and her husband on Jan. 24, the very day that her committee, the Senate Health Committee, hosted a private, all-senators briefing from administration officials, including the CDC director and Anthony Fauci, the head of the National Institutes of Health of the United States, on the coronavirus.

That first transaction was a sale of stock in the company Resideo Technologies worth between $50,001 and $100,000. The company's stock price has fallen by more than half since then, and the Dow Jones Industrial Average overall has shed approximately 10,000 points, dropping about a third of its value.

It was the first of 29 stock transactions that Loeffler and her husband made through mid-February, all but two of which were sales. One of Loeffler's two purchases was stock worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result of coronavirus-induced market turmoil.

In the weeks after her spate of stock trades, Loeffler sought to downplay the public health and financial threats posed by the coronavirus.

"Democrats have dangerously and intentionally misled the American people on #Coronavirus readiness," she tweeted on February 28. "Here's the truth: @realDonaldTrump & his administration are doing a great job working to keep Americans healthy & safe."

"Concerned about #coronavirus?" she tweeted on March 10. "Remember this: The consumer is strong, the economy is strong, & jobs are growing, which puts us in the best economic position to tackle #COVID19 & keep Americans safe."

Loeffler is the second known senator to sell off large stock holdings between that Jan. 24 briefing and the dramatic drop in stock market indices over the last week. The Center for Responsive Politics reported on Thursday that Sen. Richard Burr (R-NC), who chairs the Senate Intelligence Committee, sold between $500,000 and $1.5 million in stock in February, shortly before markets tanked—and before Burr privately warned of the havoc that coronavirus was poised to wreak.

Loeffler assumed office on Jan. 6 after having been appointed to the seat vacated by retiring Sen. Johnny Isakson. Between then and Jan. 23 she did not report a single stock transaction from accounts owned by her individually or by her and her husband jointly.

Between Jan. 24 and Feb. 14, by contrast, Loeffler reported selling stock jointly owned with her husband worth between $1,275,000 and $3,100,000, according to transaction reports filed with Senate ethics officials. On Feb. 14, she also purchased the Citrix stock and another $100,000 to $250,000 in technology company Oracle, which has seen its share price decline by more than 18 percent since then.

Joke's on us, folks.

[grumbler]

Yi you're task for the sequestration is to come up with a drinking game to help see Languishites through this. 

Every time Timmy fucks up grammar or spelling, take a drink.

Every time mongers posts a goofy poll, one drink for each goofy poll option.

Every time grumbler uses "ad hom" or "dog pile," one drink per use.

Every time Shelf uses a cheerful smilie, one hit off a joint or bong.

Every time Yi uses a nickname no one understands OR answers a question with a question, one drink per instance.

[DGuller]

His numbers seem ok to me.

It's not the accuracy--it's the breathless manner of delivering something like "That's increases of 56.9% and 46% respectively" with such small pools to begin with, and from a day to day basis.

I'm not seeing anything wrong here. I think the curves for most countries have been stable enough for such calculations to be meaningful even day over day.  The magnitude of these numbers of indeed highly alarming, especially the death numbers, which would be more reliable than infection numbers.

[HisMajestyBOB]

Republicans have agreed to give every adult $1250 who makes less than $75,000/year $1250 (or couple who make less than $150,000/year $2500). After that, it's minus $5 for every $100 up to $99,000. Plus $500 for every child claimed on taxes.

The deets seem to vary a bit more than that:

The legislation would provide checks of $1,200 per adult for many families, as well as $500 for every child in those families. Families filing jointly would receive up to $2,400 for the adults. The size of the checks would diminish for those earning more than $75,000 and phase out completely for those earning more than $99,000. The poorest families, those with no federal income tax liability, would see smaller benefits, though the minimum would be set at $600.

So, something that's means-tested on both ends. 

I don't mind the phasing out above a certain amount (I'll still get the full amount, but only because I'm married. I don't really need it, so I'll donate a good chunk of it), but the means testing at the lower end is some bullshit. Republicans really can't stop themselves from kicking the worst off.

After reading the Washington Post article, it looks like the means-testing on the lower end is from McConnell () and several Republican senators have expressed their opposition to that provision.

[HisMajestyBOB]

https://www.thedailybeast.com/sen-kelly-loeffler-dumped-millions-in-stock-after-coronavirus-briefing

Sen. Kelly Loeffler (R-GA) reported the first sale of stock jointly owned by her and her husband on Jan. 24, the very day that her committee, the Senate Health Committee, hosted a private, all-senators briefing from administration officials, including the CDC director and Anthony Fauci, the head of the National Institutes of Health of the United States, on the coronavirus.

That first transaction was a sale of stock in the company Resideo Technologies worth between $50,001 and $100,000. The company's stock price has fallen by more than half since then, and the Dow Jones Industrial Average overall has shed approximately 10,000 points, dropping about a third of its value.

It was the first of 29 stock transactions that Loeffler and her husband made through mid-February, all but two of which were sales. One of Loeffler's two purchases was stock worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result of coronavirus-induced market turmoil.

In the weeks after her spate of stock trades, Loeffler sought to downplay the public health and financial threats posed by the coronavirus.

"Democrats have dangerously and intentionally misled the American people on #Coronavirus readiness," she tweeted on February 28. "Here's the truth: @realDonaldTrump & his administration are doing a great job working to keep Americans healthy & safe."

"Concerned about #coronavirus?" she tweeted on March 10. "Remember this: The consumer is strong, the economy is strong, & jobs are growing, which puts us in the best economic position to tackle #COVID19 & keep Americans safe."

Loeffler is the second known senator to sell off large stock holdings between that Jan. 24 briefing and the dramatic drop in stock market indices over the last week. The Center for Responsive Politics reported on Thursday that Sen. Richard Burr (R-NC), who chairs the Senate Intelligence Committee, sold between $500,000 and $1.5 million in stock in February, shortly before markets tanked—and before Burr privately warned of the havoc that coronavirus was poised to wreak.

Loeffler assumed office on Jan. 6 after having been appointed to the seat vacated by retiring Sen. Johnny Isakson. Between then and Jan. 23 she did not report a single stock transaction from accounts owned by her individually or by her and her husband jointly.

Between Jan. 24 and Feb. 14, by contrast, Loeffler reported selling stock jointly owned with her husband worth between $1,275,000 and $3,100,000, according to transaction reports filed with Senate ethics officials. On Feb. 14, she also purchased the Citrix stock and another $100,000 to $250,000 in technology company Oracle, which has seen its share price decline by more than 18 percent since then.

Joke's on us, folks.

To be honest, the fact that the Trump administration is woefully unprepared for this crisis, or any crisis of any magnitude, is hardly secret information.

[mongers]

The 'London' Times is reporting Lewisham and Greenwich hospital is already "overwhelmed" and is turning covid19 patients away, presumably forcing the ambulances to go to another hospital.

No link for this yet as it's probably behind their paywall, but I'll have a search.

edit
The Daily Express is now reporting the story, so make of it what you will:
https://www.express.co.uk/news/uk/1257756/coronavirus-uk-nhs-latest-matt-hancock-london-lockdown-boris-johnson-virus-endemic

NB something wrong with my browser so I can't read the full story.

[Admiral Yi]

Incidentally, has anyone seen lower oil prices reflected at the pump?

[Fate]

So it's coming out tonight that Senator Burr and Senator Loeffler sold millions of dollars of stock immediately after confidential COVID-19 health/intelligence committee briefings back in January/February and at the same time were publicly talking down the outbreak. Loeffler then bought stock in some telework firms. I don't think hanging is good enough for these scum bags. Instead of warning the public and convincing their party's leader to take this seriously they decided to get even more wealthy.

[Admiral Yi]

I'm not ready to join the lynch mob just yet.  If anything, peddling the libtard hoax line after the briefing and stock sales would tend to keep prices up, which they didn't benefit from.

By the date of the briefing the virus' existence and early global spread were common knowledge.  What info could they have recieved in the briefing that would constitute "insider information?"

[Eddie Teach]

Keep prices up to give them time to unload their stock. I don't see how this is justifiable.

[Admiral Yi]

It takes me 2 seconds to log on to my broker and about 10 more to execute a trade.

[Barrister]

His numbers seem ok to me.

It's not the accuracy--it's the breathless manner of delivering something like "That's increases of 56.9% and 46% respectively" with such small pools to begin with, and from a day to day basis.

I'm not seeing anything wrong here. I think the curves for most countries have been stable enough for such calculations to be meaningful even day over day.  The magnitude of these numbers of indeed highly alarming, especially the death numbers, which would be more reliable than infection numbers.

Oh come on.  I'm definitely no actuary, but I know you can't take two data points and draw and kind of conclusion from them.

[PDH]

And California as a whole is on a "remain at home" order.  Of course that doesn't mean that UC Santa Cruz Receiving stays at home I am sure.

[Eddie Teach]

It takes me 2 seconds to log on to my broker and about 10 more to execute a trade.

Ok, but they didn't sell immediately. So their stocks did benefit while they were misleading the public to prop up prices. Clearly a moral failing even if not a legal one.

[Admiral Yi]

Ok, but they didn't sell immediately. So their stocks did benefit while they were misleading the public to prop up prices. Clearly a moral failing even if not a legal one.

My opening bid is appearance of conflict of interest and PR disaster.