weekender 0 #1 November 30, 2011 "After a perfunctory discussion of the market turmoil, the fund manager says, the discussion turned to Fannie Mae and Freddie Mac. Paulson said he had erred by not punishing Bear Stearns shareholders more severely. The secretary, then 62, went on to describe a possible scenario for placing Fannie and Freddie into “conservatorship” -- a government seizure designed to allow the firms to continue operations despite heavy losses in the mortgage markets." http://news.businessweek.com/article.asp?documentKey=1376-LVDZC507SXKX01-53FDT6STR4PRVU9B7CRTDL62J0 If you read the entire article you will see there is NO evidence anyone traded on this info, therefore, no crime. Also, Paulson violated no rules or laws because insider trading puts the onus not on the deceminator but the recipient of said info. there are times you must discuss non public info but there is never a time you have the right to trade on it. Paulson sought the counsul of people he trusted. these people are PM's and many former GSCO friends. Nothing odd there, since thats who he knows. he is a former GSCO chairman so his friends will be important. BUT why didnt he take more measure to insure they didnt trade and to provide them more cover if they acted correctly by not trading? as it is now, some have clearly stated they didnt trade on this info, others have yet to be so clear. it will be easy for the SEC and other regulators to catch them if they did since trading is so higly regulated. Why didnt Paulson make all of them sign something? Were they all so naive to think this meeting would not come up again? im guessing no, arrogant yes, naive no. to me it proves that insider trading laws need to be more clear when it comes to public employees. I'm guessing even if they didnt trade on it, how can you ever prove they didnt tip someone else off? you cant. to me that is the crime and it will never be prosecuted."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
weekender 0 #2 November 30, 2011 bankers are evil and the 1% run the world. republicans are behind all this except GSCO who gave more money to Dems and Obama!!! there its been said so if thats all you want to add you can move on to another thread. I think its a very interesting story and would love to see this thread not devolve into some right vs left, have vs have nots bs."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
DesertAttorney 0 #3 November 30, 2011 Quotebankers are evil and the 1% run the world. republicans are behind all this except GSCO who gave more money to Dems and Obama!!! there its been said so if thats all you want to add you can move on to another thread. I think its a very interesting story and would love to see this thread not devolve into some right vs left, have vs have nots bs. "Really? I poop too much." --Beavis Quote Share this post Link to post Share on other sites
rushmc 18 #4 November 30, 2011 Quotebankers are evil and the 1% run the world. republicans are behind all this except GSCO who gave more money to Dems and Obama!!! there its been said so if thats all you want to add you can move on to another thread. I think its a very interesting story and would love to see this thread not devolve into some right vs left, have vs have nots bs. What I find interesting is he wants the gov to do something about this And as it is turning out these gov officials, right and left, are using thier positions and doing insider trading to enrich themselves! So he is supporting those who are worse than he condems"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
weekender 0 #5 November 30, 2011 QuoteQuotebankers are evil and the 1% run the world. republicans are behind all this except GSCO who gave more money to Dems and Obama!!! there its been said so if thats all you want to add you can move on to another thread. I think its a very interesting story and would love to see this thread not devolve into some right vs left, have vs have nots bs. What I find interesting is he wants the gov to do something about this And as it is turning out these gov officials, right and left, are using thier positions and doing insider trading to enrich themselves! So he is supporting those who are worse than he condems i dont follow, sorry. Who are you saying wants the gov't to do something? Who are you saying is supporting those who are worse than he condems. Paulson? the Pres? me? not being obtuse, just not sure of your point, thanks i think we all can agree congress needs to change the rules on their own trading. Paulson isnt a member of congress and did NOT trade on any info though."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
rushmc 18 #6 November 30, 2011 QuoteQuoteQuotebankers are evil and the 1% run the world. republicans are behind all this except GSCO who gave more money to Dems and Obama!!! there its been said so if thats all you want to add you can move on to another thread. I think its a very interesting story and would love to see this thread not devolve into some right vs left, have vs have nots bs. What I find interesting is he wants the gov to do something about this And as it is turning out these gov officials, right and left, are using thier positions and doing insider trading to enrich themselves! So he is supporting those who are worse than he condems i dont follow, sorry. Who are you saying wants the gov't to do something? Who are you saying is supporting those who are worse than he condems. Paulson? the Pres? me? not being obtuse, just not sure of your point, thanks i think we all can agree congress needs to change the rules on their own trading. Paulson isnt a member of congress and did NOT trade on any info though. Sorry He wants the gov to take more money from those who work and give it those who do not (to make is simple) The biggest thieves out there are gov officials Even if one accepts his premise that the big banks are screwing us all over (and there is an argument to be made at a certain level supporting this claim) the banks do not hold a candle to the theft perpetrated on us by our gov officials There is a problem but the big banks are not even close to biggest player in the problem The biggest is the gov. The very operation he looks to feed the non-worker greed"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
DanG 1 #7 December 1, 2011 Who is "he"? - Dan G Quote Share this post Link to post Share on other sites
rushmc 18 #8 December 1, 2011 QuoteWho is "he"? dreamdancer"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites