The Bishop and the Butterfly: Murder, Politics, and the End of the Jazz Age

    How do you spell C R O O K? It's P A U L S..................

    By Flavius on Wed, 11/30/2011 - 1:51pm |

    Keith Olbermann, natch, covered this with his well chosen guest Jeff Madrick. But it wasn't coverred in either  the  Times or FT and it should be read. 

    What happened? The Secretary of Treasury flouted the laws against insider trading by telling a room full of investors that the Government intended to let  Fannie and Freddie go into bankruptcy.  

    http://www.bloomberg.com/news/2011-11-29/how-henry-paulson-gave-hedge-funds-advance-word-of-2008-fannie-mae-rescue.html
     

    Comments

    Hmn, not much interest.

    Oh well, so the Secretary of the Treasury has broken the law against insider trading.Yawn. What else is new? 

    It's interesting to google the subject. Apart from  Keith, it was covered by various media aimed at investors but not by the Times, or FT or NPR or PBS. 

     

     


    by Flavius on Fri, 12/02/2011 - 5:36am

    Speaking for myself, I don't know enough about the law to have an informed opinion of the matter.


    by Verified Atheist on Fri, 12/02/2011 - 6:54am

    Most of the lawyers quoted in the Bloomberg piece seem to think that while Paulson's disclosure was unethical, it was not illegal since he personally did not trade on the information.


    by Dan Kervick on Fri, 12/02/2011 - 7:28am

    I know and decided to ignore that when I called Paulson a crook.

    If you give Wllie Sutton a key to the bank I think you've behaved illegally even if he doesn't cut you in  on the loot. .


    by Flavius on Sun, 12/04/2011 - 11:00am