|
|
Add to My Group
| Permalink View Article Stats (2 comments) Promoted to Headline (H2) on 11/29/11: Former Treasury Secretary Paulson Gave Insider Information To Hedge Fund Buddies Quicklink submitted by Amanda Lang (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
|
 Paulson gave insider info to hedge funds and Sachs while $7 trillion in pensions, retirement, savings disappeared. Criminal!!! by Hedonoikos for Flickr |
According to Bloomberg News, former Treasury Secretary Hank Paulson, who was at the helm when the financial crisis hit in 2008, leaked inside information regarding the government takeover of mortgage giants Fannie Mae and Freddie Mac to several hedge fund traders, including former colleagues of his at Goldman Sachs. There's no evidence that the traders used the information, as 'tracking firm-specific short stock sales isn't possible using public documents,' but at least one trader contacted a lawyer and was told that 'Paulson's talk was material nonpublic information, and [he] should immediately stop trading' Fannie and Freddie. As Reuters' Felix Salmon put it, 'Paulson was giving inside tips to Wall Street in general, and to Goldman types in particular: exactly the kind of behavior that 'Government Sachs' conspiracy theorists have been speculating about for years.' |
Read the rest of the story HERE:
Comments
The time limit for entering new comments on this Quicklink has expired.
This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.
| 2 comments |
To view all comments:
(Or you can set your preferences to show all comments, always)
Paulson plus
by Keith Pope on Wednesday, Nov 30, 2011 at 10:01:56 AM
Goldman Crime Syndicate
by AAA AAA on Thursday, Dec 1, 2011 at 5:36:39 AM