Congressional Hypocrites Were Betting Against Stocks As Country Collapsed

Corporate Take Over


Congressional Hypocrites Were Betting Against Stocks As Country Collapsed
Published on 05-04-2010 Email To Friend Print Version
AddThis Social Bookmark Button

Source: Business Insider

atlantic city casinoRemember all that scorn in Congress about evil shortsellers betting against America and bringing the country down?

Well, it turns out Congress-people did it, too. And they used derivatives to do it, which they now say they abhor.

(For the record, we have no problem with shortselling or derivatives, and we find the routine scapegoating of both after market crashes ludicrous. But if you're going to complain about how awful
shortselling is and how evil and venal people are for doing it, you
should probably abstain from the practice yourself.

And, yes, most of the folks here were just betting against stocks, not actually selling stocks short. But it's the same idea. To use their own tortured, populist logic, they were betting against the
country and their 401k-holding constituents!)

Jason Zweig, Tom McGinty, and Brody Mullins in the WSJ:

Some members of Congress made risky bets with their own money that U.S. stocks or bonds would fall during the financial crisis, a Wall Street Journal analysis of congressional
disclosures shows.

Senators have criticized Goldman Sachs Group Inc. for profiting from the housing collapse. And Congress is considering legislation to curb Wall Street risk-taking, including the
use of financial instruments known as derivatives and of leverage, or
methods that amplify returns.

According to The Journal's analysis of congressional disclosures, investment accounts of 13 members of Congress or their spouses show bearish bets made in 2008 via
exchange-traded funds—portfolios that trade like stocks and mirror an
index. These funds were leveraged; they used derivatives and other
techniques to magnify the daily moves of the index they track.

.

Views: 27

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Sandy posted a video

Captain fantastic scene (Bill of rights)

Scene from the movie "Captain fantastic"Uploader does not claim ownership of any of the footage used in this video. All credit goes to the respective owners ...
4 hours ago
tjdavis posted photos
23 hours ago
tjdavis posted a video

The UK Has Just Reached It's Boiling Point - Ricky Gervais

Ricky Gervais - Frustration still there a year on.Nicholaswatt reports what he has been told by a parliamentary veteran, who warns: "'My constituents feel th...
yesterday
Doc Vega posted a blog post

Terrorized on a 3 Day Weekend

 We had a holiday weekend coming up. My ex, whom I was sharing custody with was off for her…See More
yesterday
Sandy posted videos
Thursday
Sandy replied to Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
"Interesting. I always thought he was still alive. Probably given some plastic surgery and a witness…"
Thursday
WIllow is now a member of 12160 Social Network
Thursday
Burbia commented on Less Prone's video
Thumbnail

Sydney Sweeney Has Great Jeans - Outrage AI Parody Song

"Props to Schottenstein on his foray out of the woods that was DEI and wokeness. "
Thursday
Burbia replied to Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
"One of the theories floating around was Hilary Clinton's brother Hugh, was the one…"
Thursday
Sandy posted a discussion
Thursday
Doc Vega posted blog posts
Wednesday
Less Prone favorited Sandy's video
Wednesday
Less Prone favorited tjdavis's video
Wednesday
Less Prone posted a video

Sydney Sweeney Has Great Jeans - Outrage AI Parody Song

AI Parody Music Video poking fun at the online hysteria surrounding Sydney Sweeney's American Eagle jeans campaign.✅ Blue jeans✅ Blonde panic✅ DEI gone wild✅...
Wednesday
tjdavis posted a video

How "Free" P*rn Sites Really Work (and Who Runs Them)

Excerpt from This Past Weekend w/ Theo Von #559 Laila MickelwaitFull Episode: https://youtu.be/9J7187j4PO4?si=2GUNymssKJpe6nEvFind Theo Von:Website: https://...
Wednesday
tjdavis posted a blog post
Wednesday
Doc Vega posted blog posts
Tuesday
Doc Vega commented on Ragnarok's video
Thumbnail

Charles Manson Talks About The Global Elite

"I've had my account with YouTube terminated before over bullshit excuses because they…"
Tuesday
Doc Vega commented on Ragnarok's video
Thumbnail

Charles Manson Talks About The Global Elite

"Remember, though he makes his points, this man used the Beatles White Album as his own manifesto of…"
Tuesday
Sandy posted videos
Monday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted