Paul Ryan sold shares on same day as private briefing of banking crisis

Well this is gonna sound much like a Political Rant more than anything. It seems overtime if I hear anything about Speaker of the House, Republican Paul Ryan, it is about cheating, undermining the Law especially concerning his personal Finances.

Mr Ryan, at the time Mitt Rmoney's running mate, Profited on a 2008 Meeting with the Federal Reserve Bank chairman Ben Bernanke. At the time that "RAT" Treasury Secretary Hank Paulson (ex-Goldman Sachs Chair) outlined some fears he had about the Big Banks going belly up.

Public records show that on the same day as the meeting, Ryan sold stock in troubled banks including Wachovia and Citigroup and bought shares in Goldman Sachs, Paulson's old employer and a bank that had been disclosed to be stronger than many of its rivals. The sale was not illegal at the time.

And surely enough, not long after the meeting his wish came true. $

Now backwards Baseball cap Boy Ryan is not alone as many of our wonderful Politicians partake in insider Trading Deals while the rest of lose our Jobs and live on Wages of there 1970's.

Living the American Dream, Filthy. Shameless.

theguardian

a reply to: ugmold

It makes ya wonder how these people look themselves in the mirror!

Ryan is just another career politician who has never held a job in the private sector. His entire adult life has been spent working the system... and benefitting the few (including himself) at the expense of the many.

What really burns me up is that congress has exempted themselves from the same insider trading laws that would land the rest of us in prison. Matt Salmon (R-AZ) has introduced a bill in congress every session for years -- perhaps decades! -- that would prohibit Congress from exempting themselves from any law the pass for the rest of us. Of course, it never goes anywhere.

Sold the 'same' day? Seems kind of vague. He would have to sell shares specifically from companies that had big shake ups and do that ahead of the announcement for it to be illegal.

a reply to: ugmold

2012.
The year Ryan and Romney were running mates.
Your post says something about 2008?
Ok I see just identifying Ryan to those who may have forgotten him.

Ironic.

Democrats view Ryan as a Republican.

Yet the Democrat controlled agencies are not investigating these things.



The article links to another article that appears to be getting this from Ryan's financial disclosures.

Can somebody interpret these disclosures?

a reply to: xuenchen

I checked them out.

This is an old article, the trades are from 08.

Ryan was in a meeting with Bernanke, and apparently
heard what would be considered "inside" information.

Big bank Share values plummeted after the meeting.

Ryan's stocks were sold, but his broker, or investment
company claimed this was already predetermined
and triggered by algorithms.

If that is true, and Ryan made no call after the
meeting, no foul.

Anywho, this is long gone and over with.

originally posted by: Sillyolme
a reply to: ugmold

2012.
The year Ryan and Romney were running mates.
Your post says something about 2008?
Ok I see just identifying Ryan to those who may have forgotten him.

My mistake, later his running mate. Thanks.

I'm sure most sympathizers will blame the computer algorithms.

a reply to: burntheships

That makes sense.

Thanks.

It may upset everyone to know that insider trading is not illegal for members of Congress.

originally posted by: ugmold
I'm sure most sympathizers will blame the computer algorithms.

Just to clarify, I am not a sympathizer of Ryan.

I had never even heard of this story till today, I find it
very interesting actually.

I'd be interested to know if the SEC investigated this.

When Martha Stewart was investigated, they went so
far as to subpoena her phone records.

One thing I did read in the investigation was Ryan's shares that
were sold appeared to be a "fund", and not held
as individual stocks. That would further insulate him,
especially if he made no contact with his broker, or investment firm.

a reply to: AugustusMasonicus

I think they have changed the law, at least to some degree.
But yes, I would agree.

originally posted by: burntheships
I think they have changed the law, at least to some degree.

They gutted that law in 2013, less than a year after it passed.

Jon Stewart mocked this back then.

a reply to: AugustusMasonicus

Ah, ok. Thanks for the update.

Figures.

Wall Street and Washington.

Laws don't apply to the political elite, they are free to rape, murder, pillage all they want without fear of repercussion.

Some people are more equal than others, it should be a capital crime, but laws are only in place for the plebs.

a reply to: AugustusMasonicus

How does that work? Why aren't there a million citizens surrounding congress demanding that congress be held to the same standards as anyone else. Every day things get bleaker as I learn more about this.

originally posted by: Joecanada11
How does that work? Why aren't there a million citizens surrounding congress demanding that congress be held to the same standards as anyone else. Every day things get bleaker as I learn more about this.

They passed a law in 2012 after the 60 Minutes expose but gutted in the next year. They all get fat on insider trading.

You and I would be in the slam for 10+ years for each count of what they do regularly.

a reply to: AugustusMasonicus

And they ve got us too distracted fighting with one another for scraps so that we don't have the time nor desire to do anything about it. How wonderful.

a reply to: Joecanada11

Exactly. They are all two sides of the same coin.

a reply to: ugmold

I blame auto correct.