WE DON’T KNOW FOR SURE. DOUG ELDRIDGE, VERY GOOD READ OF
ALL THINGS SPORTS.
WE ARE STILL WAITING TO GET WORD
OUT OF THE SENATE ON WHAT THEY
WILL DO WITH THIS STIMULUS
MEASURE.
MEASURE. WE WILL GET THE READ FROM THE
SENATOR FROM THE STATE OF
GEORGIA.
GEORGIA. WHERE DO THINGS STAND?
>> THEY JUST OPENED THE VOTE SO
I’M EAGER TO GET TO THE FLOOR
AND HELP MOVE THIS FORWARD FOR
AMERICAN FAMILIES.
AMERICAN FAMILIES. THIS IS CRITICAL.
THESE DELAYS THIS MORNING WERE
REALLY JUST TERRIBLE.
SENATOR SCHUMER WAS PUTTING
SOLAR PANEL FUNDING OVER THE
SAFETY AND SECURITY OF AMERICAN
FAMILIES AND IT’S JUST WRONG.
NEIL: WHILE I HAVE YOU, I
HAVEN’T HAD THE OPPORTUNITY, I
KNOW YOU HAVE ADDRESSED THIS
ABOUT THE TIMING OF CERTAIN
STOCK TRADES.
STOCK TRADES. WE ARE TOLD AFTER A MEETING OF
JANUARY 24th ABOUT THE
CORONAVIRUS, AND SOME
INTERPRETED THAT TIMING THAT YOU
GOT BAD NEWS ON IT AND SOLD A
LOT OF STOCK.
THAT PARTICULAR TRANSACTION
AFTERWARDS, MORE THAN $3
MILLION.
MILLION. IS THAT TRUE?
>> THAT’S ABSOLUTELY FALSE.
IT’S COMPLETELY FALSE.
ALL THE DATA WE HAVE PUT OUT
THERE IS COUNTER TO THAT, IT’S
FAKE NEWS.
FAKE NEWS. VERY DISAPPOINTING TO SEE THAT
THIS WAS PICKED UP BY LEGITIMATE
OUTLETS LIKE THE "WALL STREET
JOURNAL" REPEATING WHAT A
FLY-BY-NIGHT LIBERAL OUTLET LIKE
THE DAILY BEAST WROTE, THAT I
SOLD STOCK.
SOLD STOCK. NEIL: SENATOR, COULD YOU TELL ME
WHAT WAS FAKE?
WHAT WAS FAKE?
WAS IT THE TIMING OF THE SALE,
THAT IT HAD NOTHING TO DO WITH
THAT CORONAVIRUS BRIEFING?
WHEN DID YOU SELL THE STOCK?
WAS IT AFTER THAT BRIEFING?
BEFORE THAT BRIEFING?
>> I DON’T DO TRADES, NEIL.
I’M NOT INVOLVED IN MY
PORTFOLIO.
PORTFOLIO. MY HUSBAND IS NOT INVOLVED.
OUR PORTFOLIO IS MANAGED BY
THIRD PARTIES.
THIRD PARTIES. THE ACTIONS ARE BLIND TO ME
UNTIL THEY PUT IT IN FRONT OF ME
AT THE END OF THE REPORTING
PERIOD AND I WILL JUST TELL YOU,
IN THAT PORTFOLIO, IT’S
ABSOLUTELY FALSE THAT WE SOLD
MILLIONS.
MILLIONS. ACTUALLY, IT WAS A MORE BULLISH
BET.
BET. WE ENDED UP OWNING COMPANIES
LIKE DELTA, LIKE GOLDMAN SACHS,
LIKE PRUDENTIAL, COMPANIES THAT
HAVE BEEN HARD-HIT AND ENDED UP
LOSING MONEY.
LOSING MONEY. NO ONE HAS REPORTED THAT AND IT
DOESN’T, YOU KNOW, IT HAS
NOTHING TO DO WITH KNOWLEDGE I
HAD OR DIDN’T HAVE BECAUSE I HAD
NO INVOLVEMENT IN THESE TRADES.
NEIL: SO THIS WAS LEFT TO
OUTSIDE PARTIES, YOU AND YOUR
HUSBAND
HUSBAND HUSBAND, THE CHAIRMAN OF THE
INTERNATIONAL --
INTERNATIONAL -- INTERCONTINENTAL EXCHANGE, NEW
YORK STOCK EXCHANGE, YOU HAD
PARTIES, INDIVIDUALS MAYBE WHO
HAVE YOUR ACCOUNT, AND THEN
SELL, DO THEY CHECK IT WITH YOU?
DO YOU CHECK WITH THEM?
HOW DOES IT GO?
>> IT’S REPORTED TO ME ON A
PIECE OF PAPER, AT THE END OF
THE PERIOD.
THE PERIOD. I DON’T WANT TO BE INVOLVED.
LISTEN, I HAVE BEEN IN FINANCIAL
SERVICES FOR 20 YEARS.
I HAVE BEEN AROUND MATERIAL
NON-PUBLIC INFORMATION FOR THAT
LONG.
LONG. I’M A CHARTERED FINANCIAL
ANALYST.
ANALYST. I UNDERSTAND ETHICS AND S.E.C.
COMPLIANCE AT THE HIGHEST
LEVELS.
LEVELS. THAT’S ALL WE HAVE DONE TO
COMPLY WITH IT.
I HAVE BEEN AROUND MUCH MORE
SUBSTANTIAL MATERIAL NON-PUBLIC
INFORMATION THAN PROBABLY ANY OF
MY PEERS IN THE SENATE.
I KNOW EXACTLY HOW TO MANAGE
THROUGH THIS.
THROUGH THIS. THIS IS FAKE NEWS.
IT’S PREYING ON THE EMOTIONS OF
THE AMERICAN PEOPLE AND TRYING
TO CREATE A NARRATIVE THAT’S
ABSOLUTELY FALSE AND NO ONE’S
BOTHERED TO FACT-CHECK IT.
NEIL: MAYBE GIVEN YOUR NOTORIETY
AS A UNITED STATES SENATOR, YOUR
HUSBAND A BIG MUCKITY-MUCK, IT
DRAWS MORE ATTENTION THAN IT
MIGHT HAVE.
MIGHT HAVE. YOUR HUSBAND DID SELL
INTERCONTINENTAL EXCHANGE ISSUES
LATER ON, JUST A COUPLE WEEKS
AGO.
AGO. THAT AGAIN WAS HANDLED THE SAME
WAY ON YOUR BEHALF, A THIRD
PARTY, YOU KNOW, TOOK THAT
INDEPENDENTLY, TOOK THAT AS AN
OPPORTUNITY TO SELL THOSE
SHARES?
SHARES? EXPLAIN.
EXPLAIN. >> SO YOU MAY BE FAMILIAR WITH
THE S.E.C., SECURITIES AND
EXCHANGE COMMISSION RULE 10B-51.
THIS REQUIRES ANY TRADES HAVE A
COOLING-OFF PERIOD.
COOLING-OFF PERIOD. AS AN EXECUTIVE, PLANS ARE FILED
FAR IN ADVANCE OF ANY
TRANSACTION BEING EXECUTED.
THAT’S EXACTLY WHAT WAS REQUIRED
AND HAS BEEN REQUIRED.
THAT’S HOW WE CONDUCT ANY
SECURITY SALE THAT COMES AS PART
OF COMPENSATION.
OF COMPENSATION. MOST EXECUTIVES WILL UNDERSTAND
HOW THIS WORKS.
YOU CANNOT JUST TURN AROUND AND
SELL A STOCK.
IT HAS TO BE FILED FAR IN
ADVANCE.
ADVANCE. LOOK, THIS IS SOMETHING THAT
EVERYONE CAN LOOK INTO.
THESE ARE PUBLIC FILINGS.
THAT’S HOW WE HAVE CONDUCTED OUR
AFFAIRS FOR 20 YEARS.
AND IT’S JUST THE FAKE NEWS
BLOWING IT OUT OF PROPORTION IN
TERMS OF TRYING TO SCAPEGOAT
SOMEONE WHO LIKE MYSELF, LIKE MY
HUSBAND, WHO STARTED WORKING OUR
WAY UP -- LOOK, I WORKED IN THE
FIELD.
FIELD. I WAITRESSED MY WAY THROUGH
SCHOOL.
SCHOOL. I LIVED THE AMERICAN DREAM BY
CLIMBING UP THROUGH INCREASINGLY
RESPONSIBLE POSITIONS IN
BUSINESS AND YOU KNOW, ATTACK MY
HAIR, ATTACK ME WHO YOU DON’T
LIKE MY CLOTHES BUT DON’T ATTACK
MY INTEGRITY AND DON’T ATTACK MY
HUSBAND’S INTEGRITY BECAUSE WE
FOLLOWED THE SPIRIT AND --
NEIL: I UNDERSTAND WHERE YOU ARE
COMING FROM.
COMING FROM. YOU MIGHT THINK IT’S FAKE NEWS
AND ALL OF THAT, BUT YOU ARE A
LEGITIMATE, AND YOUR HUSBAND,
LEGITIMATE REAL BIG DEALS SO
OBVIOUSLY, IN THE MIDDLE OF A
SELLOFF IN THE MARKETS,
SOMETHING THAT YOU DO WHETHER
TIMED TO ANYTHING OR NOT IS
GOING TO GET MORE SCRUTINY THAN
SOMETHING SOMEONE ELSE DOES.
SO ARE YOU JUST SAYING JUST TO
BE CLEAR HERE, THAT THOSE STOCK
SALES PARTICULARLY THE LATEST
ONES IN MARCH, HAD NOTHING TO DO
WITH THE FREE-FALL IN THE
MARKETS AND JUST GETTING OUT?
>> I HAVE NO INVOLVEMENT IN
STOCK SALES IN ANY MONTH OF THE
YEAR.
YEAR. IT DOESN’T MATTER.
I CAN TELL YOU THAT I HAD NO
INPUT IN DECIDING WHEN THOSE --
WHAT WAS IN THOSE REPORTS AND
LOOK, WE WERE IN A BULL MARKET
UNTIL FEBRUARY 20th.
I MEAN, THIS ECONOMY WAS STRONG
AND UNEMPLOYMENT REPORTS WERE AT
ALL-TIME HIGHS, YOU KNOW, RECORD
EMPLOYMENT.
EMPLOYMENT. THE ECONOMY WAS STRONG.
WE HIT THE 13th RECORD IN THE
S&P 500 ON FEBRUARY 19th.
I MEAN, THIS IS, YOU KNOW, WHEN
PEOPLE WERE SELLING, PORTFOLIO
MANAGERS SELLING, SOMEONE WAS ON
THE OTHER SIDE, PEOPLE WERE
BUYING, WHEN THE MARKET WAS
GOING UP AND DOWN.
THAT’S THE NATURE OF THE MARKET.
I’M NOT INVOLVED WITH THAT.