Hellsangel wrote:http://www.hlntv.com/article/2012/08/11/things-you-need-know-about-congressman-paul-ryan?hpt=hp_t1

Marathadi-Saamiyaar wrote:

Hellsangel wrote:http://www.hlntv.com/article/2012/08/11/things-you-need-know-about-congressman-paul-ryan?hpt=hp_t1

Here is the 17th "thing" that everyone should know about this Paul dude:

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On September 18, 2008, Ryan attended a closed meeting with congressional leaders, then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, and was urged to craft legislation to help financially troubled banks. That same day Ryan sold shares in various troubled banks and invested in Goldman Sachs.
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Of course, he did not do anything illegal...he was just following his Roman catholic principles he learned form his school and family as part of "family values"

MaxEntropy_Man wrote:here's one thing he is NOT, a deficit hawk.
http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/11/paul-ryan-isnt-a-deficit-hawk-hes-a-conservative-reformer/

b_A wrote:

MaxEntropy_Man wrote:here's one thing he is NOT, a deficit hawk.
http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/11/paul-ryan-isnt-a-deficit-hawk-hes-a-conservative-reformer/

So the new criterion is being a deficit hawk . How is Obama doing there ?

b_A wrote:

Marathadi-Saamiyaar wrote:
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On September 18, 2008, Ryan attended a closed meeting with congressional leaders, then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, and was urged to craft legislation to help financially troubled banks. That same day Ryan sold shares in various troubled banks and invested in Goldman Sachs.
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Come On. In later part of 2008 , you didn't have to be a congressman or with insider knowledge to know that Banks were in big trouble. Everybody already knew that. It would've been news if knew it in the first or second quarter of 2008. Second thing is that he didn't make money there and probably lost money. Maybe a little lesser loss but a loss nonetheless.

panini press wrote:

b_A wrote:

Marathadi-Saamiyaar wrote:
*********
On September 18, 2008, Ryan attended a closed meeting with congressional leaders, then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, and was urged to craft legislation to help financially troubled banks. That same day Ryan sold shares in various troubled banks and invested in Goldman Sachs.
*********

Come On. In later part of 2008 , you didn't have to be a congressman or with insider knowledge to know that Banks were in big trouble. Everybody already knew that. It would've been news if knew it in the first or second quarter of 2008. Second thing is that he didn't make money there and probably lost money. Maybe a little lesser loss but a loss nonetheless.

Let us look at this more closely. The big warning sign for the general investor was the Lehman bankruptcy, announced in the wee hours of Sep 15. Paul Ryan met Paulson and Bernanke on Sep 18 and sold his shares then. Did he benefit from this?

Take a look at the chart below, showing the Dow Jones Industrial Average and a financial sector ETF (I picked Vanguard Financials ETF for illustration, but you can check out others as well). The dot on the blue line is the day Ryan sold his stocks.



As you can see, selling when he sold, with the non-public information he had, saved him quite a bit.