The Wall Street Journal’s New Report on the Coronavirus Pandemic

US officials made lucrative stock trades while preparing for Covid-19, WSJ reports

The Wall Street Journal has obtained emails from a number of U.S. government and private corporate officials, as well as reports from the Securities and Exchange Commission and other regulatory bodies, that provide new details of the enormous influence Wall Street has over the response to the coronavirus pandemic.

The emails and reports detail how government officials, including regulators, companies and advisers, met to discuss and plot a response to the Covid-19 pandemic as it developed. They also show how officials with private financial institutions, including hedge funds and financial advisers, were involved in the meetings to discuss the epidemic’s response, and how they were privy to the details of the trading in the weeks before the virus struck.

Read the full article here.

U.S. regulators made $10.4 trillion worth of stock trades in the weeks between February and March, while the Securities and Exchange Commission was drafting rules to regulate the financial markets after the coronavirus pandemic.

In the weeks leading up to the coronavirus pandemic, U.S. officials, some of whom are in charge of overseeing the response, met with their counterparts in the financial industry to discuss how the new situation would play out.

The emails and reports show that the Securities and Exchange Commission was the most active regulator, while the Federal Reserve and the Commodity Futures Trading Commission were the most active government agencies in the months leading up to the pandemic.

Some of the SEC meetings are described in the Journal’s report, highlighting how the agency is still working to clarify its regulatory authority amid criticism that it has not acted quickly enough to rein in the excessive trading in the markets.

The Journal reports:

The SEC had nearly twice as many meetings on coronavirus as on the S&P 500 in any other period of time during the past decade. One meeting on Feb. 21, for example, happened when the S&P 500 reached $8,000.

SEC officials were eager to discuss their plans for the epidemic.

“One of the things that’s really unique about being here right now is where many of the

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