If an old bureaucrat like me sold almost all of his stock at the top of the market on inside information, that would be a scandal. (I don’t have Ms. Loeffler’s funds, and I didn’t sell.) But her $1.8 million is a trifle more than a third of 1 percent of her $500 million in assets. It is nothing, unless it was her total stock portfolio. That is hard to believe, and it was not alleged. Someone with $500 million in assets ought to be thoughtfully invested in stocks, bonds, real estate and cash on hand. Suppose she had $100 million in stock and sold $40 million to $50 million at the top of the market. That would be suspicious. But one-third of 1 percent of assets is a rounding error. The story should have put her sales in the context of her wealth, but then there wouldn’t be a story.
Ms. Loeffler serving on a Senate committee that oversees an agency that regulates her husband’s business is a real scandal.
Edward Stern, Bethesda