Author Topic: Paul Ryan Acted Immediately After 2008 Bush WH Meeting on Impending Economic Mel  (Read 1216 times)

blacken700

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www.slate.com/blogs/moneybox/2012/08/13/paul_ryan_used_inside_info_to_profit_from_the_financial_crisis.html



It should probably come as no surprise to anyone that someone like Paul Ryan would trade on inside information gained through his position as a congressman to line his pockets, but this particular instance is especially egregious. 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. This is the guy Republicans want one heartbeat away from the presidency? He seems more than a little shady to me.



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": http://www.the-richmonder.com/2012/08/paul-ryan-traded-on-insider-information.html?m=1


Soul Crusher

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www.slate.com/blogs/moneybox/2012/08/13/paul_ryan_used_inside_info_to_profit_from_the_financial_crisis.html



It should probably come as no surprise to anyone that someone like Paul Ryan would trade on inside information gained through his position as a congressman to line his pockets, but this particular instance is especially egregious. 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. This is the guy Republicans want one heartbeat away from the presidency? He seems more than a little shady to me.



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": http://www.the-richmonder.com/2012/08/paul-ryan-traded-on-insider-information.html?m=1




Funny - when Pelosi was exposed for doing this you never said a word. 

240 is Back

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i believe that loophole is still legal.

Straw Man

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i believe that loophole is still legal.

Obama signed a watered down version of legislation (guess which party watered it down) to no longer allow this type of activity

http://www.whitehouse.gov/the-press-office/2012/04/04/fact-sheet-stock-act-bans-members-congress-insider-trading


Shockwave

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If it was legal, then meh.

Straw Man

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If it was legal, then meh.

it was legal but still no less disgusting

it's really our own fault for allowing our elected officials to grant themselves exceptions to things that would land the rest of us in jail

Soul Crusher

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it was legal but still no less disgusting

it's really our own fault for allowing our elected officials to grant themselves exceptions to things that would land the rest of us in jail

Oh spare me the fake outrage.  When pelosi was exposed for doing far worse you said nothing. 

Shockwave

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it was legal but still no less disgusting

it's really our own fault for allowing our elected officials to grant themselves exceptions to things that would land the rest of us in jail
Correct.
We can't get mad at them if we don't hold them to the same standards.

240 is Back

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Oh spare me the fake outrage.  When pelosi was exposed for doing far worse you said nothing.  

I'm okay when dems do it, but repubs taking advantage of a legal loophole really burns my britches.


Straw Man

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Oh spare me the fake outrage.  When pelosi was exposed for doing far worse you said nothing.  

dude - I've posted on this MANY times before

I made these same comments a week or so ago when you were bellyaching about Harry Reids son and his ties to a Chinese energy company

Straw Man

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Correct.
We can't get mad at them if we don't hold them to the same standards.

I think the curernt legislation still allows family members to benefit from inside info (can't recall for sure)


Kazan

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it was legal but still no less disgusting

it's really our own fault for allowing our elected officials to grant themselves exceptions to things that would land the rest of us in jail

It's our own fault for allowing a ruling class to take over this country.
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