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Trump Admin Privately Briefed Investors On Virus Risks While Depicting More Optimistic Pic To Public

peter baker this was a stunning story to read through you kind of had to put your jaw back off the table when you got through it but we have trump admitting in his own voice on tape to woodward they knowingly lied to the public the other side of that seems to be that basically had a session uh with uh you know uh the conservative hudson institute uh uh donors and and and patrons and so forth saying that the situation was more bleak than if they were saying publicly that something is serious was afoot and there was a memo that came out of this by one of the participants that was then spread around wall street uh and it basically said uh you know provided this dire message from the white house and guided clearly some investors to begin uh shorting stocks and and and otherwise changing their investment strategies with this inside information that the public was not getting so i think that this is uh this this goes to the heart of this administration's handling of the number one issue of the year which is what did it do in terms of the coronal virus how did it handle it uh with the public what did it tell the public when did it tell it and how is it even to this day is it treating it with the seriousness that public health experts would tell you that they should donna edwards it would appear that along with the hudson hudson institu hoover institute others were in on the joke i mean politico reported back in april that republican and democratic lawmakers have bought and sold stocks hundreds of times throughout the coronavirus pandemic some of them lucrative moves to invest in industries buoyed by the crisis and divest from sectors like restaurants and hotels that have tanked according to a new analysis by the campaign legal center from february 2nd to april 8th of this year the nonpartisan watchdog group found 12 senators made a combined 127 purchases or sales while 37 house representatives made at least 1 358 transactions we should also put up that that richard burr's stock trades i don't know if he's one of those 12 senators i assume he was have come under criminal scrutiny investigators are looking into whether north carolina republican senator richard burr used non-public information about the coronavirus when he sold hundreds of thousands of dollars worth of stocks in february of this year he temporarily stepped down as the chair of the intelligence committee obviously as chair of the intelligence community he would have had access to just that non-public information about the coronavirus um what what is a public that is dealing with food insecurity dealing with school insecurity dealing with economic insecurity dealing with just insecurity and fear supposed to make of a white house briefing investors and members of the house and senate trading stocks off private information well i think the public makes exactly that comes to exactly the conclusion uh that people believe that if you are in the investor class if you are in the know if you've got friends in high places then you get a better deal than the average american who's struggling the jurisdiction of the securities and exchange commission commission may not be insider trading but it sure stinks to high heaven that you have a president in the united states who around that same time or before then was saying i'm going to play it down but i know it's bad and i know it's airborne we're just not going to tell anybody about it an administration that was not really doing anything about it and the senior economic advisers saying one thing publicly that um you know that this was going to be over and it was no big deal but privately sharing with their investor class friends and that memo that then an email that then spread like the surreptitious covet virus through the investor community so that they could all cut their deals betting against our economy betting against the american people uh and the rest of us are left to fend for ourselves this is really just disgusting at every single level hey there i'm chris hayes from msnbc thanks for watching msnbc on youtube if you want to keep up to date with the videos we're putting out you can click subscribe just below me or click over on this list to see lots of other great videos