He sold financial stocks on September 18, 2008 the same day he met with Hank Paulson. Have you read Paul Ryans very own disclosure.
Forget BI, Forget Obama, Forget Democratic Party because it is always brought up when facts get in the way although I normally seen that with Liberals.
http://pfds.opensecrets.org/N00004357_2008.pdf
Yes, but he dropped the stocks during the day and only met Paulson in the evening.
Timeline is everything.
RE: He sold financial stocks on September 18, 2008 the same day he met with Hank Paulson.
What time was his meeting with Hank? Did he dump the stocks BEFORE or AFTER the meeting?
And here’s another question regarding the word : “DUMP”.
Here’s what we know.
Ryan reported a lot of trading in 2008. He bought and sold 29 different stocks or mutual fund shares. He reported trades for every month, almost like clockwork, except for May. Most of his transactions were sales of existing positions.
For example, Ryan sold AT&T in February, July, August and October. He sold General Electric in February, August, October, November and December. He sold JPMorgan in January, July and September. He sold Wachovia in January, June, August and September.
How is that DUMPING? To dump means to share ALL of your shares at once in anticipation of a huge drop.
He did trade in and out of two financial names in 2008: Goldman Sachs and Citigroup. He sold shares in Citi in January, March, June, August, September and December. He bought Citi in February, April, July and October. In other words, Ryan was following a pattern of alternating between buying and selling shares of Citi throughout the year.
The only breaks in this pattern were
(a) when he neither bought nor sold any stocks in his portfolio in May,
(b) skipping November’s sale of Citi and selling in December instead, and
(c) selling shares in Citi in both August and September.
Ryan sold shares in Goldman in February, August, October, November and December. He bought shares in Goldman in January, March, June and September.
Notice a pattern here? Each of Ryan’s purchases of Goldman shares coincides with the sale of a share of Citi.
So, Ryan follows this pattern of going long Goldman when he sold Citi on September 18. That day, Ryan also took part in a meeting where Hank Paulson and Ben Bernanke met with Congressional leaders to make their case that the situation in the financial sector had turned so dire as to threaten the entire economy.
Ryan reports PUBLICLY ( that’s transparency for you) that that day, he sold shares in JPMorgan , Wachovia and Citi, while buying in Goldman.
Question for you? HOW IS THIS DUMPING STOCKS AGAIN?
As CNBC Concludes while observing Ryan’s trading patterns —
The problem with the claim that this is evidence of insider trading is that the trading is too normal for Ryan. There’s no evidence of abnormal behavior in him selling stocks on the 18th of the month, or selling these particular stocks. What’s more, buying Goldman on a day he sold Citi was also a part of his regular pattern.
This just isn’t evidence of insider trading in any way.