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Qtec
11-30-2011, 07:03 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">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.
Stock Wipeout

Paulson explained that under this scenario, the common stock of the two government-sponsored enterprises, or GSEs, would be effectively wiped out. So too would the various classes of preferred stock, he said.

The fund manager says he was shocked that Paulson would furnish such specific information -- to his mind, leaving little doubt that the Treasury Department would carry out the plan. The managers attending the meeting were thus given a choice opportunity to trade on that information.

There’s no evidence that they did so after the meeting; tracking firm-specific short stock sales isn’t possible using public documents.

And law professors say that Paulson himself broke no law by disclosing what amounted to inside information. </div></div>

Yes, the rich do what they always do.

Q ... How Paulson Gave Hedge Funds Advance Word (http://www.bloomberg.com/news/2011-11-29/how-henry-paulson-gave-hedge-funds-advance-word-of-2008-fannie-mae-rescue.html)

Gayle in MD
11-30-2011, 08:00 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">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.
Stock Wipeout

Paulson explained that under this scenario, the common stock of the two government-sponsored enterprises, or GSEs, would be effectively wiped out. So too would the various classes of preferred stock, he said.

The fund manager says he was shocked that Paulson would furnish such specific information -- to his mind, leaving little doubt that the Treasury Department would carry out the plan. The managers attending the meeting were thus given a choice opportunity to trade on that information.

There’s no evidence that they did so after the meeting; tracking firm-specific short stock sales isn’t possible using public documents.

And law professors say that Paulson himself broke no law by disclosing what amounted to inside information. </div></div>

Yes, the rich do what they always do.

Q ... How Paulson Gave Hedge Funds Advance Word (http://www.bloomberg.com/news/2011-11-29/how-henry-paulson-gave-hedge-funds-advance-word-of-2008-fannie-mae-rescue.html) </div></div>



<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">And law professors say that Paulson himself broke no law by disclosing what amounted to inside information.

</div></div>

IIARIOK!



<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Yes, the rich do what they always do.

</div></div>

Yep, steal from and exploit everyone else, with the help of the so called, "Free Market" Zealots.

G.

eg8r
11-30-2011, 09:28 AM
So did Paulson break the law or not? You guys are providing quotes to say he didn't break the law so what is wrong?

eg8r

cushioncrawler
11-30-2011, 02:37 PM
eg -- The usofa iz toast not koz of what iz dunn illegally, it iz toast koz of what iz dunn legally.
Its the legal stuff that kills.
mac.