12 Days Before ?08 Crash, Congress was Secretly Told to Sell Off Their Stocks

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  • wehateporn
    Promoting Debate on GFY
    • Apr 2007
    • 27176
    #1

    12 Days Before ?08 Crash, Congress was Secretly Told to Sell Off Their Stocks


    Earlier this month, it was reported that less than two weeks before the economic collapse of 2008, several members of Congress took their money out of the stock market. Many high-ranking government employees were given a heads-up about the impending market crash in secret meetings with the Federal Reserve and the Treasury Department. Then they used that information to engage in insider trading.

    It was revealed that Senator Shelley Capito and her husband sold $350,000 worth of Citigroup stock at $83 per share, just one day before the stock dropped to $64 per share. Another shady trader was Congressman Jim Moran, who had his biggest trading day of the year days after the secret meeting, sellings stock in nearly 100 different companies.

    These actions would be illegal for any American in any other circumstance, but members of Congress and high-ranking government officials are actually exempt from insider trading laws.

    Continued 12 Days Before ?08 Crash, Congress was Secretly Told to Sell Off Their Stocks
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    • seeandsee
      Check SIG!
      • Mar 2006
      • 50945
      #2
      So what will this change knowing this?
      BUY MY SIG - 50$/Year

      Contact here

        Comment

        • SilentKnight
          Megan Fox's fluffer
          • Oct 2005
          • 24812
          #3
          Corrupt politicos...oh noes.

          I'd be surprised if they didn't engage in insider trading.

          But still - that story is written without a lot of verifiable source.

            Comment

            • L-Pink
              working on my tan
              • Mar 2005
              • 39151
              #4
              Like someone would care if a congressman lost some money.

                Comment

                • Dvae
                  Confirmed User
                  • Feb 2005
                  • 5326
                  #5
                  Originally posted by SilentKnight
                  Corrupt politicos...oh noes.

                  I'd be surprised if they didn't engage in insider trading.
                  Not only do they its totally legal.
                  Congress: Trading stock on inside information? - CBS News
                  .
                  .

                  Arguing with a troll is a lot like wrestling in the mud with a pig, after a couple of hours you realize the pig likes it.

                    Comment

                    • JuicyBunny
                      So Fucking Banned
                      • Jun 2010
                      • 2145
                      #6
                      Originally posted by Dvae
                      Not only do they its totally legal.
                      Congress: Trading stock on inside information? - CBS News
                      Yep, they make big noise in pretending to do the right thing then they pull this shit...just this year.

                      https://theintercept.com/2015/05/07/...sider-trading/

                        Comment

                        • MiamiBoyz
                          fgfdftre6
                          • Oct 2012
                          • 6688
                          #7
                          Originally posted by seeandsee
                          So what will this change knowing this?
                          It will confirm that your government is using and abusing you.

                          It will confirm that your government lies to you.

                          It will confirm that your government is your enemy.

                          Need I go on or do you get it now?

                            Comment

                            • MFCT
                              Confirmed User
                              • Jan 2015
                              • 1489
                              #8
                              See, this is just one example of thousands you'll never hear about...of the reason so many people will spend millions, even tens of millions of their own money, to get elected to a job that pays $150k per year. The fringe benefits are out of this world.

                              Fixing the problems and making the country a better place is the least of their concerns. It should come as no surprise that the country goes to shit because of it. But yeah, who cares. They're making serious bank.

                              See who spent what at the link.

                              https://www.opensecrets.org/bigpictu...php?cycle=2012
                              Keeping you abreast of the teens that get undressed.
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                                Comment

                                • Paul Markham
                                  Too old to care
                                  • Jun 2001
                                  • 52942
                                  #9
                                  If they're not on the "inside" as traders, getting a tip from the inside. Is that illegal?

                                  Immoral, unethical, and corrupt is normal for most politicians.



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                                    Comment

                                    • JuicyBunny
                                      So Fucking Banned
                                      • Jun 2010
                                      • 2145
                                      #10
                                      Originally posted by Paul Markham
                                      If they're not on the "inside" as traders, getting a tip from the inside. Is that illegal?

                                      Immoral, unethical, and corrupt is normal for most politicians.
                                      Pretty true. If they go as far as being elected and they get elected they have to be the cream of the scum bag. "Murica" - Actually Insert any country name between the ""

                                        Comment

                                        • JFK
                                          FUBAR the ORIGINATOR
                                          • Jan 2002
                                          • 67369
                                          #11
                                          Originally posted by JuicyBunny
                                          Pretty true. If they go as far as being elected and they get elected they have to be the cream of the scum bag. "Murica" - Actually Insert any country name between the ""
                                          yup, they are all the same , world wide

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                                            Comment

                                            • crockett
                                              in a van by the river
                                              • May 2003
                                              • 76818
                                              #12
                                              Originally posted by SilentKnight
                                              Corrupt politicos...oh noes.

                                              I'd be surprised if they didn't engage in insider trading.

                                              But still - that story is written without a lot of verifiable source.
                                              They do engage in inside trading.. Congress has made themselves "exempt" to insider trading laws.. It's been that way for quite awhile. Why do you think they go into office with some money but come out extreemly wealthy..
                                              In November, you can vote for America's next president or its first dictator.

                                                Comment

                                                • bronco67
                                                  Too lazy to set a custom title
                                                  • Dec 2006
                                                  • 29026
                                                  #13
                                                  This a Wehateporn story I can actually believe.

                                                    Comment

                                                    • Socks
                                                      Confirmed User
                                                      • May 2002
                                                      • 8475
                                                      #14
                                                      Financial Crisis Cost Tops $22 Trillion, GAO Says

                                                      And we're supposed to believe they let someone know to get their $350k out? Plz.

                                                        Comment

                                                        • Major (Tom)
                                                          So Fucking Banned
                                                          • Nov 2003
                                                          • 32492
                                                          #15
                                                          The housing market crashed in 07 so anyone could predict banks holding that bad debt would crash too. Nothing Duchovnian about that.
                                                          Ds

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