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View Full Version : P. Ryan's Insider Trading& Fiscal Irresponsibility



Gayle in MD
08-13-2012, 06:57 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Paul Ryan traded on insider information to avoid 2008 crash


It should probably come as no surprise to anyone that someone like Paul Ryan would trade on inside information gained through his position as a congressman to line his pockets, but this particular instance is especially egregious. Ryan attended a closed meeting with congressional leaders, Bush's Treasury Secretary Henry Paulson, and Federal Reserve Chairman Ben Bernanke on September 18, 2008. The purpose of the meeting was to disclose the coming economic meltdown and beg Congress to pass legislation to help collapsing banks.

Instead of doing anything to help, Ryan left the meeting and on that very same day Paul Ryan sold shares of stock he owned in several troubled banks and reinvested the proceeds in Goldman Sachs, a bank that the meeting had disclosed was not in trouble. This is the guy Republicans want one heartbeat away from the presidency? He seems more than a little shady to me.

Have a look at Ryan's financial disclosure form for 2008--you can click on each page to enlarge them. The "Transactions" section begins on page 12--scroll through and look at all the trades Paul Ryan made on "9-18-08":

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http://www.the-richmonder.com/2012/08/paul-ryan-traded-on-insider-information.html

Gayle in MD
08-13-2012, 10:13 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Paul Ryan? Seriously?
John Nichols on August 8, 2012 - 3:10 PM ET
Of course Paul Ryan wants to be Mitt Romney’s vice presidential running mate.

The hyper-ambitious political careerist—who has spent his entire adult life as a Congressional aide, think-tank hanger-on and House member—is looking for a road up. And he is sly enough to recognize that, like Dick Cheney with George Bush, he could be more than just a vice president in the administration of so bumbling a character as Romney.

Ryan figured Romney out months ago.

The two men bonded during the Wisconsin presidential primary campaign in late March and early April. They got on so well that Ryan was playing April Fool’s Day jokes on the Republican front-runner—giving Romney a rousing introduction before the candidate came from behind a curtain to find the room where he had expected to be greeted by a crowd of supporters was empty.

Romney loves the prep-school fraternity that he has with Ryan, and every indication is that the former governor would be delighted to add the House Budget Committee chairman to his ticket.

The conversations have occurred. The vetting has been completed. It could happen. And, indeed, as the time for choosing nears, the Ryan buzz has been amplified—mainly by the Wisconsin congressman’s friends at The Weekly Standard, which has editorialized enthusiastically on behalf of his selection, and other conservative media outlets. But, now, even ABC’s “Veep Beat” headlines “Paul Ryan’s Rising Momentum.”

There’s just one problem.

Vice presidential nominees are supposed to help tickets, not hurt them.

Romney clearly needs help. Just back from a disastrous trip to Europe and the Middle East, mired in controversies about the “vulture capitalism” he practiced at Bain Capital and his refusal to release tax returns that his dad—former Michigan governor and 1968 Republican presidential contender George Romney—said contenders for the Oval Office had a a responsibility to share with the voters, Romney could use a boost.

But Ryan would be a burden, not a booster, for a Romney-led ticket.

Like Romney, Ryan is a son of privilege who has little real-world experience or understanding. He presents well on Sunday morning talk shows and in the rarified confines of Washington think tanks and dinners with his constituents—the Masters of the Universe on Wall Street—but his record in Congress and the policies he now promotes are political albatrosses.

Some Republicans, perhaps even Romney, do not get this.

But the Obama campaign recognized, correctly, that Ryan’s positioning of himself as the point man on behalf of an austerity that would remake America as a dramatically weaker and more dysfunctional country makes him the most vulnerable of prominent Republicans.

Ryan scares people who live outside the “bubble” of a modern conservative movement that thinks the wealthiest country in the world is “broke” and that Ayn Rand is an literary and economic seer.

The House Budget Committee chairman imagines himself as a high priest speaking unfortunate truths about debts and deficits, the unforgiving foe of social spending who would gladly sacrifice Social Security, Medicare and Medicaid on the altar of debt reduction. Ryan has branded himself well within Republican circles, so well that he has parlayed himself into contention for the vice presidential nod. To get that nomination, however, Ryan must count on the prospect that the party that takes as its symbol the memory-rich elephant will suddenly suffer a spell of forgetfulness. That’s because the Republican congressman from Wisconsin, for all his bluster, is anything but a consistent advocate for fiscal responsibility and balanced budgets. He is, in fact, a hypocrite,

Or, to be more precise, a hypocritical big spender—at least when Wall Street, the insurance industry and the military-industrial complex call.

Ryan has been a steady voter for unwise bailouts of big banks, unfunded mandates and unnecessary wars. Few members of Congress have run up such very big tabs while doing so little to figure out how to pay the piper. How has Ryan gotten away with his fool-most-of-the-people-most-of-the-time politics?

For the most part, he has until recently flown under the radar—dazzling fellow Republicans with fiscal fancy footwork, while dancing around weak Democratic opposition in his home district.

But no more. This year, Ryan is being called out by an able challenger with actual experience in the private sector, as well as local government. Rob Zerban, the congressman’s Democratic challenger, is not fooled by Ryan’s budgetary blathering.

Zerban is familiar with Ryan’s record. And he has been calling the budget committee chairman out on his “faux fiscal credentials.”

”Congressman Paul Ryan can grandstand about the debt all he wants, but at the end of the day, Ryan is a root cause of many of the financial issues our country faces today,” says Zerban.”From supporting two unfunded wars, to dumping millions of senior citizens into the Medicare Part D ‘donut hole’ while tying the hands of the government to negotiate prescription drug prices, and from fighting for subsidies for Big Oil that his family personally benefits from, to supporting the unfunded Bush tax cuts for his wealthiest campaign contributors, Paul Ryan’s hypocrisy is astounding.”

Even as national Republicans “vet” Ryan as a potential running mate for Mitt Romney, Zerban has been revealing the reality of a congressman who may talk the talk but who has never walked the walk. “Congressman Ryan fell down on the job, and is now trying to push the blame for his bad policy decisions onto President Obama,” says Zerban. “Congressman Ryan had ten years in Congress—almost all with a House Republican majority—to reduce the deficit, prior to President Obama’s election. He did nothing.”

That’s right.

If, by some chance, Paul Ryan were to become the Republican nominee for vice president, the whole country would be talking about his duplicity when it comes to the balancing of budgets.

Ryan’s first vulnerability would be the legitimate concern about his willingness to rip apart the social safety net, under the guise of “reforms” that would undermine and eventually destroy Medicare, Medicaid and Social Security.

But under the serious scrutiny to which he would finally be subjected, Ryan would be revealed as something worse than a fiscal fabulist.

He would be revealed as a hypocrite of the highest order. Americans can handle hard truths and bold ideas. But they’re not so good with hypocrisy.

And they wouldn’t be so good with Paul Ryan.





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Known for his fiscal irresponsibility!
http://www.thenation.com/blog/169285/paul-ryan-seriously#

Soflasnapper
08-13-2012, 11:41 AM
I imagine this might strike many as bad, although it was entirely legal at the time.

It is unseemly, particularly now that Congress has been shamed into making it illegal. They were even shamed to close the family and associates loopholes, after those were noticed.

Still, chaining Ryan to a tree and going after him with chain saws until he's a bloody pulp (figuratively, on his past) may cause a backlash of sympathy and revulsion as he's an earnest and seemingly nice person.

Or, maybe that's what's needed to pierce that perception, lest his boyscout persona get him a wide pass from voters.

I think it can be done purely on his wildly bad policy ideas, and is unnecessary to personally muddy him up. While appreciating hearing all this background, still.

Gayle in MD
08-13-2012, 12:02 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I think it can be done purely on his wildly bad policy ideas, and is unnecessary to personally muddy him up. While appreciating hearing all this background, still. </div></div>

Yes, I agree, and I just scratched the surface on this background. Most of what he is for, the majority of voters are against.

He's on record as being against women's rights and Gay rights as well. He voted for the Personhood Amendment! Pretty far from being seen as anything close to moderate.

G.

eg8r
08-13-2012, 01:55 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I think it can be done purely on his wildly bad policy ideas, and is unnecessary to personally muddy him up.</div></div>You might need to muzzle Reid before he gets started again. It seems you guys went soft on dirty politics so why would you want to change now? Good to trash Romney but be nice to Ryan because he's an earnest and seemingly nice person?

eg8r

Qtec
08-13-2012, 05:35 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> It seems you guys went soft on dirty politics so why would you want to change now? </div></div>

Spare me the false outrage. Mitt's secrecy about his tax returns invite speculation.
Harry did what needed to be done and its NOT dirty politics. Harry made a claim and Mitt can show him to be a liar by releasing more tax returns.
Why doesn't he do it?

For the last 4 years, the RW media,Fox and the GOP have encouraged the idea that Obama is a Muslim and was not born in the USA.
Is that dirty politics?

Now ONE Dem makes a claim without offering proof and suddenly they have all got their panties in a twist, including you.

What does Mitt have to hide?

Q

Soflasnapper
08-13-2012, 06:15 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I think it can be done purely on his wildly bad policy ideas, and is unnecessary to personally muddy him up.</div></div>You might need to muzzle Reid before he gets started again. It seems you guys went soft on dirty politics so why would you want to change now? Good to trash Romney but be nice to Ryan because he's an earnest and seemingly nice person?

eg8r </div></div>

I'm speaking pragmatically, fearing a backlash if it's done to Ryan. I do not fear that backlash in the case of muddying up Romney's reputation, because he is not a sympathetic character, but more in the line of McScrooge, Richie Rich, and the top hat guy from Monopoly.

Note also, I do not favor telling lies about either of them. I don't believe Reid told a lie, but rather repeated a hearsay claim of another, and I do believe he knows the party saying it and believes he knows what he's talking about.

So I'm questioning whether bringing up the kitchen sink of truth about Ryan is wise, not saying dirty politics will backfire, because I don't think bringing up his past, truthfully, is dirty politics at all.

Gayle in MD
08-14-2012, 12:08 AM
The simple truth about Ryan AND Romney is bad enough.

Ryan will get the most focus because Mitt is hiding everything, but Ryan can't get away with hiding his policies. They are already out there for all to see.

That's why Repubs in tight races are already distancing themselves from Ryan.

R & R are both in the bag for the wealthy, and both perfectly willing to take away from hard working Americans causing much hardship, in order to give more to the wealthy.

IMO, the vast majority of Americans are fed up with that scam.


<span style='font-size: 14pt'>Paul Ryan's 'Path To Prosperity' Hurts Americans In These 10 Ways </span>


http://www.huffingtonpost.com/2012/08/13/paul-ryan-path-to-prosperity_n_1773623.html#slide=1376013

Soflasnapper
08-14-2012, 09:48 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Paul Ryan traded on insider information to avoid 2008 crash


It should probably come as no surprise to anyone that someone like Paul Ryan would trade on inside information gained through his position as a congressman to line his pockets, but this particular instance is especially egregious. Ryan attended a closed meeting with congressional leaders, Bush's Treasury Secretary Henry Paulson, and Federal Reserve Chairman Ben Bernanke on September 18, 2008. The purpose of the meeting was to disclose the coming economic meltdown and beg Congress to pass legislation to help collapsing banks.

Instead of doing anything to help, Ryan left the meeting and on that very same day Paul Ryan sold shares of stock he owned in several troubled banks and reinvested the proceeds in Goldman Sachs, a bank that the meeting had disclosed was not in trouble. This is the guy Republicans want one heartbeat away from the presidency? He seems more than a little shady to me.

Have a look at Ryan's financial disclosure form for 2008--you can click on each page to enlarge them. The "Transactions" section begins on page 12--scroll through and look at all the trades Paul Ryan made on "9-18-08":

</div></div>


http://www.the-richmonder.com/2012/08/paul-ryan-traded-on-insider-information.html </div></div>

Apparently this take is incorrect.

See Talking Points Memo's (http://2012.talkingpointsmemo.com/2012/08/paul-ryan-insider-trading-rumor-quickly-debunked.php?ref=fpnewsfeed) story.

He couldn't have done it, and didn't do it.

Gayle in MD
08-14-2012, 09:58 AM
RIGHT YOU ARE! Thank you for the correction.

My mistake! I should have double checked the information, and really should have known better since I am not familiar with that blog!

Sorry.

G.