Paul Ryan Acted Immediately After 2008 Bush WH Meeting on Impending Economic Meltdown [View all]

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. . . to protect his OWN investments, using info he had obtained from the high-level huddle with Bush's financial advisers.


from The Richmonder): 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


hat tip: Matthew Yglesias at Slate