Elizabeth Warren Demands Investigation of Elite Investors Tightening Trump Briefings

In the first letter received by CNN Business, V. Rene wrote that “numerous investors may have used this preliminary and insider information about the emerging epidemic, tragic economic and public health consequences, to make a profit for themselves.”

The request came in a report in The New York Times alleging that senior members of President Donald Trump’s economic team had detailed private concerns about the outbreak in late February. These warnings, which were issued during a private address to the board members of the Holocaust organization, are in stark contrast to the administration’s public comments.
At the time, Trump was telling the public that the health crisis was “very under control.” The President also a To tweet That stock market “made me feel so good!”
Elite investors trying to gain access to Trump briefings are all wrong in the stock market

A report of those private concerns held by top US officials has been spread among selected investors by a hedge fund consultant, which will allow these traders to make bets that the stock will fall.

According to the Times, presidential aides were “giving rich party donors a warning of a potentially effective infection when wealthy Trump publicly insisted that the threat did not exist.”

The Times said a large investor’s response to the hedge fund consultant’s memo was “short of everything”.

It turned out to be a lucrative business.

By March 11, the S&P 500 had hit the fastest bear market in U.S. history. Retirement accounts and investment portfolios were crushed. The market value of millions of dollars was abolished.

In the letter, Warren said the incident “seems to be a case of an internal trade textbook.”


Treasury Secretary Steven Munuchi on Thursday called the Times report a “second exaggeration” by the paper.

“I can’t imagine this,” Munuchi told CNBC. “By the way, there were a lot of investors who had their own ideas of what was going on at the time and were rightly very concerned.”

And the Times has reported that legal experts say it is not clear that any communication about this briefing violates securities laws.

But at least one billionaire investor expressed concern about the incident.

Elizabeth Warren reprimands Disney for firing thousands of employees after offering fat executive pay packages
“But the problem is – and crystallization of that story – the feeling that people got a briefing from White House spokesmen, ‘don’t worry – it’s mostly contained, or all contained’ and then donors and insiders get a different A bunch of more worrying briefings inside the White House, “hedge fund manager Jim Chanos told Hedge Risk Management on Thursday.

Vernon requested the SEC and CFTC to review Republican information on the material provided to investors and any trade that may result from it.

In particular, the groom asked regulators to determine which officials in the Trump administration provided the information, how the information differed from public comments by the administration, who received the information, and whether those individuals traded securities, futures, exchanges or commodities. .

“If this report is accurate, it represents a horrific resignation by President Trump and the top brass of his administration,” Warren wrote.