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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRevealed: Romney Campaign’s Attempts to Deny Paul Ryan’s Insider Trading Don't Add Up
http://www.alternet.org/news-amp-politics/revealed-romney-campaigns-attempts-deny-paul-ryans-insider-trading-dont-add?akid=9217.277129.kNcoTG&rd=1&src=newsletter693416&t=1Over the weekend, the Richmonder blog broke what looked like a whopper of a story: that Republican vice-presidential hopeful Paul Ryan had lined his pockets from information he had obtained from a now-legendary meeting that took place on September 18, 2008. On that day, Fed Chairman Ben Bernanke and then-Treasury Secretary Hank Paulson broke the news to congressional leaders that they would have to approve a bailout to avert a complete meltdown of the financial system.
America was lurching toward catastrophe. But some folks were apparently thinking about their stock portfolios.
Checking through Ryans financial disclosure reports, the Richmonder discovered that Ryan had sold the stocks of several major banks that day, while purchasing surprise! stock in Paulsons old firm Goldman Sachs. The story quickly circulated through the media.
The Romney campaign rapidly issued denials, based on three separate -- and clearly false -- claims: 1) the trades were not individual stock trades, but trades made as part of an index that trades big blocs of stocks according to preset formulas; 2) the meeting took place in the evening, after markets were closed, so the meeting could not have played a role in Ryans trading decisions; and 3) the stocks traded within a trust over which Ryan had no direct authority.
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Revealed: Romney Campaign’s Attempts to Deny Paul Ryan’s Insider Trading Don't Add Up (Original Post)
xchrom
Aug 2012
OP
Heather MC
(8,084 posts)1. not the blind trust rouse, come on Rmoney you already told us that's a lie!
plcdude
(5,310 posts)2. if true
this is a problem probably not illegal although it should be but another perception of the wealthy playing by another set of rules.
Marrah_G
(28,581 posts)3. This is a huge deal
But sadly I doubt it will go anywhere and I highly doubt there will even be an investigation.
But if a poor person steals a package of hot dogs- OMFG lock them up!