- Politics and Social Issues
Paul Ryan: An Example of a Crooked Politician and of Inside Trading
On September 18th, 2008 a high level meeting took place between politicians and bankers in the United States, in order to discuss and take preventive measures regarding the economic and financial collapse which seemed to be taking place. Some key figures in that meeting were people such as the Treasury Secretary, Henry Paulson; the Chairman of the Federal Reserve Bank, Ben Bernanke and none other than the righteous congressman, Paul Ryan.
By no fault of his own, Mr. Paul Ryan learned at that meeting about the collapse which was happening, of certain financial institution such as CitiGroup Inc. and immediately afterwards, he began selling his stocks. It is also interesting to note that as he began selling certain stocks which were doomed to fail, Mr. Ryan acted on knowledge from his meeting with the bankers that Goldman Sachs was not in danger of collapse and he went ahead purchasing more assets with the latter bank. Another detail to mention here would be that Goldman Sachs was the previous employer of Mr. Henry Paulson. Banksters and politicians more often than not seem to be conveniently linked together ...
Can the political system in the United States be more crooked? What can we expect when politicians are in bed with banksters?
The information talked about at that meeting, about which banks were going down and which banks were expected to not do so badly, on September 18th, 2008 was not public. That meeting happened behind closed doors. Therefore, by definition the information discussed at that meeting is considered insider information. With that in mind, seeing how Mr. Paul Ryan sold off his assets with banks such as Wachovia, or CitiGroup the same day, that clearly means that he was involved in insider trading. People should go to jail for such actions but obviously if You are Republican Congressman Paul Ryan, the law does not apply to You.
Almost every day, I hear of examples of corruption and crooks manipulating the political system, from one end of the globe to another. At this point, I wonder how much longer the masses will be patient with politicians stuffing their pockets because of their privileged circumstances. How much longer can corruption exist at the highest levels in government before the entire system collapses?
Time will tell.