Lawmakers reworked financial portfolios after talks with Fed, Treasury officials

[Dick Tuck]

This is about how politicians from both sides of the aisle trade on inside information. Why there's not been an SEC investigation is beyond me.

Lawmakers reworked financial portfolios after talks with Fed, Treasury officials

In January 2008, President George W. Bush was scrambling to bolster the American economy. The subprime mortgage industry was collapsing, and the Dow Jones industrial average had lost more than 2,000 points in less than three months.

House Minority Leader John A. Boehner became the Bush administration’s point person on Capitol Hill to negotiate a $150 billion stimulus package.

In the days that followed, Treasury Secretary Henry M. Paulson Jr. made frequent phone calls and visits to Boehner. Neither Paulson nor Boehner would publicly discuss the progress of their negotiations to shore up the nation’s financial portfolio.

On Jan. 23, Boehner (R-Ohio) met Paulson for breakfast. Boehner would later report the rearrangement of a portion of his own financial portfolio made on that same day. He sold between $50,000 and $100,000 from a more aggressive mutual fund and moved money into a safer investment.

 

[Steelplate]

Yeah....that kind of shit is dead wrong....I don't give a shit what letter is behind their name. It ought to be an impeachable(or whatever the Congressional equivalent is) and criminal offense.

 

[OODA_Loop]

Insider trading is crime.

No arrests.

 

[Steelplate]

Yeah no shit....funny how it didn't even get exposed until Obama took office. I'm hoping they are working on it...but the cynical side of me thinks that it would involve so many people that it would cripple our government.

 

[GuyPinestra]

I've said it before and I'll say it again. Dems and Reps are the 2 sides to the coin of politics. No matter which side comes up, it's still politics, it's still the same coin.
The ONLY reason I will vote for Romney is SCOTUS appointments.... unfortunately...