Market Ticker Forums
Detailed market commentary at The Market Ticker and Ticker Classics (The Year 2012 In Review)
Donations accepted; we offer GOLD ACCESS for enhanced privileges. T-Shirts, caps, coffee mugs? Click here.
BlogTalkRadio - Mondays at 3:30 Central - Yes, TickerGuy has a radio show (kinda)
Rss Icon RSS available You are not signed on; if you are a visitor please register for a free account!
Sponsored Advertising
To remove advertising from your display upgrade to Gold Donor status
MarketTicker Forums Read Message in FedUp
User: Not logged on
Top Forum Top Login Control Panel FAQ Register Logout
User Info Lawmakers reworked financial portfolios after talks with Fed in forum [FedUp]
Jinxx0r
Posts: 4252
Incept: 2007-08-10
Silver
Report This As A Bad Post Add To Your Ignored User List Ignore this thread

Quote:
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.

The next day, the White House unveiled the stimulus package.

Boehner is one of 34 members of Congress who took steps to recast their financial portfolios during the financial crisis after phone calls or meetings with Paulson; his successor, Timothy F. Geithner; or Federal Reserve Chairman Ben S. Bernanke, according to a Washington Post examination of appointment calendars and congressional disclosure forms.

The lawmakers, many of whom held leadership positions and committee chairmanships in the House and Senate, changed portions of their portfolios a total of 166 times within two business days of speaking or meeting with the administration officials. The party affiliation of the lawmakers was about evenly divided between Democrats and Republicans, 19 to 15.


http://www.washingtonpost.com/politics/l....

The rest of us would go to prison for this...
Vitchilo
Posts: 4988
Incept: 2011-04-27

Report This As A Bad Post Add To Your Ignored User List
Maybe that'll be new information to the 10-15% of retards that are still supporting congress.

----------
We hang the petty thieves and promote the great ones to office.
Jinxx0r
Posts: 4252
Incept: 2007-08-10
Silver
Report This As A Bad Post Add To Your Ignored User List
I bet most people still don't know this. I've been posting about this for a long time. The stories keep coming up 4+ years later and no change.
Geckogm
Posts: 3740
Incept: 2007-06-26
Gold
Canyon Lake
Report This As A Bad Post Add To Your Ignored User List
They know about Martha the poster child for insider trading. Wait she was jailed for lying ooops.
Snooze
Posts: 2849
Incept: 2007-07-09
Gold
florida
Report This As A Bad Post Add To Your Ignored User List
Too bad they were not TF members from 2007. They could have aggressively reorganized their portfolios before TSHTF.

----------
Wealth is found in the warmth of the sun, in the coolness of moist soil, in the taste of fresh air, and in the pulse of your heart. Plant a seed and harvest your riches.
Top Forum Top Login Control Panel FAQ Register Logout