Boy Did his coincidence help him cash in!
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.
All of the relevant documents are
located here at The Richmonder!
This on top the fact
that as his influence on the budget committee grows, so does his personal wealth and stake in mining interests!
Then you realize why he had this to say about TARP:
"Madam Speaker, this bill offends my principles, but I'm gonna vote for this bill in order to preserve my principles." This Ryan flip-flop comes from his 2008 House floor speech in support of TARP, the $700 billion Wall Street bailout package.
Then you wonder how someone as unethical and dishonest as
Paul Ryan(R-Wall St.) can come from WI.
EDITORS NOTE: SInce there is a chance that this has been proven wrong(see comments under tpm link), I decided to give the congressman the benefit of the doubt. So i changed the title to this post and acknowledge that maybe he is so busy helping his Mines grow in profit with his influence he has not had time or the expertise to engage in insider trading.
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