Perdue Copies Loeffler’s Failed Damage Control Stunt as His Stock Trading Scandal Grows

May 9, 2020

After Perdue invested in key companies during coronavirus outbreak, he’s now taking a page from Loeffler’s disastrous playbook to cover for his stock scandal

ATLANTA — Last night, Senator David Perdue made his own “Friday night news dump” when he revealed that he is copying unelected “political mega-donor” Senator Kelly Loeffler’s failed PR stunt of selling off individual stocks — even while Perdue, like Loeffler, is still keeping millions in shares despite his pledge.

Perdue has been in hot water after reports that his trading “increased nearly threefold” during the early stages of the coronavirus outbreak as he bought stock in key companies like Netflix and “a chemical company that supplies personal protective equipment” while selling-off shares in casino giant Caesars. Since then, Perdue has desperately tried to do damage control on his scandal while refusing to back his own Senate colleague as she faces her own criticism from her coronavirus stock trades.

Now, as Loeffler’s campaign is flailing as a result of her “lesson in how not to manage a crisis,” Perdue is taking a page from her disastrous PR playbook while still refusing to defend Loeffler herself or take meaningful steps following his scandal like placing his assets in a blind trust.

“Senator David Perdue’s stock trading scandal has gotten so out of hand that he’s now copying Senator Kelly Loeffler’s failed damage control gimmicks rather than facing any accountability for his actions,” said Alex Floyd, spokesman for the Democratic Party of Georgia. “This is not the time for PR stunts. It’s time for Perdue to take responsibility for his trades and put his assets into a blind trust to prevent any more potential pandemic profiteering.”

Read more about Perdue’s latest attempt at damage control:

AJC: U.S. Sen. David Perdue says his advisers won’t trade individual stocks

  • U.S. Sen. David Perdue, after seeing his portfolio scrutinized and criticized, says his advisers will no longer trade stocks in individual companies.
  • The Friday evening announcement coincided with the filing of a report that outlined trading on his behalf over the previous month.
  • Both [Perdue and Loeffler] have been criticized by watchdog groups and political opponents for stock trades made during the coronavirus pandemic. 
  • Government agencies have been asked to investigate them and other members of Congress to see if they used insider information during the COVID-19 pandemic to determine what companies to buy and sell shares in.
  • Government transparency groups have said members of Congress should not own stocks in individual companies in order to avoid allegations of conflicts of interest. These groups have urged lawmakers to put their wealth in blind trusts or invest in mutual or exchange-traded funds instead.

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