Quote:
Originally Posted by blueash
As reported today in the Richmonder, from Richmond VA, Paul Ryan attended a closed door briefing on the upcoming finanacial collapse of several banks getting information from Bernanke on which particular banks were most likely to fail. This meeting occurred on Sept 18, 2008
What did Congressman Ryan do with the information he received? On that same day, he sold the at risk banks and bought banks he was told were safe. Coincidence? This was NOT illegal insider trading in 2008 but as a result of legislation proposed and signed by Obama it would now be a crime. Here was what Ryan had to say in his vote in support of the legislation making insider trading by Congressmen illegal
“Insider trading should never occur and should never be tolerated"
Good thing that Romney's retroactive financial rules don't apply to Mr. Ryan
The Richmonder: Paul Ryan traded on insider information to avoid 2008 crash |
was this a one-on-one briefing or were there other members of gov't included? can you identify others who might have been in attendance or any other citizens who made the same trades?
if insider trading was permissible for members of congress, and one has knowledge of impending doom for their investments, is it not the smart trader who exercises their options rather than sits back and sacrifices their investment portfolio?
when did congressman make his statement re insider trading - before or after his trades? apparently this is an instance where obama and others agreed with ryan and did something about it!
i bet the lack of retroactivity it is good for a whole bunch of additional members of congress who just might have acted in the same way as ryan - no?
what would you have done with your portfolioif you were in paul ryan's shoes with the same info and legal ability/right? i know i can say that my mama didn't raise no fool!
is four year old info the best that the libs can come up with? - especially since laws have changed since then - and changed to a policy with which ryan agrees. now if ryan had insider traded AFTER the legislation that makes it a crime to do so - that would be newsworthy!