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Romney’s VP Choice, Paul Ryan: Insider Trading, Bailouts, and Goldman Sachs
Kevin Hayden – TruthisTreason.net
Source: Economic Policy Journal (Notes and corrections by Kevin Hayden)
He babbles about Ayn Rand, but when it comes to his actions, Paul Ryan is a thief right out of the John Maynard Keynes school of using government for insider profit gains.
In September of 2008, Ryan sold stock in several US banks on the same day he attended confidential meetings involving top level officials disclosing that the banking sector was headed for a deep crisis. He immediately sold his stock in troubled banks, including Wachovia and Citigroup.
Not long after the meeting, Wachovia’s already troubled share price went into free fall. It plunged 39% on the afternoon of September 26th.
Citigroup’s share price also fell soon after the meeting. Most interesting, though, while selling other bank stocks, Ryan bought shares that day in Goldman Sachs.
September 18th, 2008, was a Thursday. On the following Tuesday, Warren Buffet announced that the company he controls, Berkshire Hathaway, was making a $5 billion investment in Goldman Sachs. The stock soared after the news. Buffett’s plan to buy Goldman stock was likely discussed at the meeting that Ryan attended. Senator Dick Durbin, who also attended the meeting, made some unusual trades of his own at that time. The day after the meeting, he sold his mutual funds and bought stock in Buffett’s Berkshire Hathaway.
In 2009, I wrote:
Goldman stock climbed by more than 40% from its low on the 18th to its closing price on the 19th. It would be interesting to know who was buying that stock, given that just 4 days later Buffett was going to plow billions into the company.
Now, we know who one of the buyers was: Paul Ryan.
On October 3, 2008, Ryan voted for the bailout, which resulted in even more money being pumped into Goldman. Goldman Sachs is now among his largest financial supporters, according to the Center for Responsive Politics.
Hayden’s Note:
It should be noted that Goldman Sachs dumps millions and millions into Romney’s, Obama’s, and Ryan’s campaign finance war chests.
Related posts:
- Former Goldman Sachs Board Member Charged by SEC with Insider Trading
- Former Goldman Sachs, Proctor & Gamble Director Charged with Insider Trading
- 12 Ominous Signs for World Financial Markets, IMF Bank Bailouts & Goldman Sachs’ Predictions
2012-08-14 20:03:18
Source: http://www.truthistreason.net/romneys-vp-choice-paul-ryan-insider-trading-bailouts-and-goldman-sachs
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