Paul Ryan traded on insider information to avoid 2008 crash

[^_^ 5,021]

Ryan attended a closed meeting with congressional leaders, Bush's Treasury Secretary Henry Paulson, and Federal Reserve Chairman Ben Bernanke on September 18, 2008. The purpose of the meeting was to disclose the coming economic meltdown and beg Congress to pass legislation to help collapsing banks.

Instead of doing anything to help, Ryan left the meeting and on that very same day Paul Ryan sold shares of stock he owned in several troubled banks and reinvested the proceeds in Goldman Sachs, a bank that the meeting had disclosed was not in trouble.

...

Have a look at Ryan's financial disclosure form for 2008--you can click on each page to enlarge them. The "Transactions" section begins on page 12--scroll through and look at all the trades Paul Ryan made on "9-18-08"...

Read more at http://www.the-richmonder.com/2012/08/paul-ryan-traded-on-insider-information.html

[X Factor 1,110]

Like is expected, the dirt is starting to be revealed. No wonder many sane people don't want to be in politics

[mawilson 2,133]

Insider trading by members of Congress was legal in 2008.

[X Factor 1,110]

Insider trading by members of Congress was legal in 2008.

Martha Stewart didn't get away with it like they did.

[^_^ 5,021]

Insider trading by members of Congress was legal in 2008.

I read your response and I hear echos of Al Gore's "no controlling legal authority".

[dalegg 143]

that was pretty darn quick.

[mawilson 2,133]

Martha Stewart didn't get away with it like they did.

Was Martha Stewart a member of Congress?

[mawilson 2,133]

I read your response and I hear echos of Al Gore's "no controlling legal authority".

It was LEGAL. They could use non-public information to trade.

This was changed earlier this year.

[^_^ 5,021]

It was LEGAL. They could use non-public information to trade.

This was changed earlier this year.

Like I said, echos of Al Gore

[JohnR! 5,495]

Like I said, echos of Al Gore

Echoes of the same old politicians of always...

They should consider coming clean and running on 'let's do it again' . No false pretenses. Just admit that their platform is more of the same which inexorably will result in screwing up the middle class, protecting the interests of the big corporations and blaming the poor for their predicament.

Why even bother ?

[I AM NOT THAT GUY 5,715]

Ryan attended a closed meeting with congressional leaders, Bush's Treasury Secretary Henry Paulson, and Federal Reserve Chairman Ben Bernanke on September 18, 2008. The purpose of the meeting was to disclose the coming economic meltdown and beg Congress to pass legislation to help collapsing banks.

Instead of doing anything to help, Ryan left the meeting and on that very same day Paul Ryan sold shares of stock he owned in several troubled banks and reinvested the proceeds in Goldman Sachs, a bank that the meeting had disclosed was not in trouble.

...

Have a look at Ryan's financial disclosure form for 2008--you can click on each page to enlarge them. The "Transactions" section begins on page 12--scroll through and look at all the trades Paul Ryan made on "9-18-08"...

Read more at http://www.the-richmonder.com/2012/08/paul-ryan-traded-on-insider-information.html

Was this a "secret" briefing, or was that information publicly disclosed?

[^_^ 5,021]

Was this a "secret" briefing, or was that information publicly disclosed?

Can you read or are you just too lazy?

[I AM NOT THAT GUY 5,715]

Can you read or are you just too lazy?

I read and I read. I even went to the source used by the blogger to see that Ryan was on a selling trend for the entire year of 2008, not just on September 18, 2008.

http://www.opensecrets.org/pfds/CIDsummary.php?CID=N00004357&year=2008

Edited August 13, 2012 by The Patriot

[mox 298]

It was LEGAL. They could use non-public information to trade.

It's times like this you should be asking yourself, "would that excuse have flown for the opposition?"

It might have been legal, but it's not really the sort of thing that makes for good press. If the story gets legs, I don't think people are going to care if it was legal or not. On a day that people who were not Paul Ryan lost billions, Paul Ryan was able to toss himself a life preserver.

[mawilson 2,133]

It's times like this you should be asking yourself, "would that excuse have flown for the opposition?"

Of course it has. Nancy Pelosi made millions too.