cheap canada goose uk But at the same time

cheap canada goose uk But at the same time

Hank Paulson’s inside jobs

What on earth did Canada Goose Jackets Hank Paulson think his job was in the summer of 2008? As far as most of us were concerned, he was secretary of the US Treasury, answerable to canada goose the US people and to the president. cheap canada goose uk But at the same time, in canada goose black friday sale secret meetings, Paulson was hanging Canada Goose Coats On Sale out with his old Goldman Sachs buddies, giving them invaluable information about what he was thinking in his new job.

Markopolos eyes a fortune from BNY whistleblowing

The uk canada goose first news buy canada goose jacket of this behavior came in October 2009, when Andrew Ross Sorkin revealed that Paulson had met with the entire board of Canada Goose sale Goldman Sachs in a Moscow hotel suite for an hour at the end of June 2008. He told them his views of the US and global economies, he previewed a market moving speech he was about to give, and he even talked about the possibility that Lehman Brothers might blow up. canada goose uk black friday Maybe it not so surprising that Goldman Sachs turned out to be canadian goose jacket so well positioned when canada goose factory sale Lehman did indeed do just that a few months later.

Today we learn that the Goldman meeting in Moscow was not some canada goose coats on sale kind of aberration. A few weeks later, on July 28 2008, Paulson met with a who who of the hedge fund world in cheap Canada Goose the headquarters of Eton Park Capital Management a fund founded by former Goldman superstar Eric Mindich.

The secretary, then 62, went on to describe a possible scenario for placing Fannie and Freddie into canada goose coats a government seizure designed to allow the firms to continue operations despite heavy losses in the mortgage markets

Paulson explained homesite https://www.salecanadagooseoutlets.com Canada Goose UK canada goose uk shop that under this scenario, the common stock of the two government sponsored enterprises, or GSEs, uk canada goose outlet would be effectively wiped out

The canada goose clearance fund manager who described the meeting left after coffee canada goose clearance sale and called Canada Goose Outlet his lawyer. The attorney quick conclusion: Paulson talk was material nonpublic information, and his client should immediately stop trading the shares of Washington based Fannie and McLean, Virginia based Freddie.

When we found out about the Moscow meeting, I asked buy canada goose jacket cheap how on earth Paulson thought such behavior was OK. But now I Canada Goose online think he was downright pathological in giving inside information to his old Wall Street buddies. And the crazy thing is that we have no idea how many of these meetings there were, or how long they went on for the only way that we ever find out about them is when reporters like Sorkin or Bloomberg canada goose uk outlet Richard Teitelbaum manage to find a source who was in the meeting and is willing to talk about what happened.

Given that it taken two years since the release of Sorkin book for the Eton Park Canada Goose Online meeting to be made public, it fair to assume that there were other meetings, too possibly many others. Paulson was giving inside tips to Wall Street in general, and to Goldman types in particular: exactly the kind of behavior Canada Goose Parka that Sachs conspiracy theorists have been speculating about for years. Turns out, they were right. Unless it means by an astonishing black canada goose store hole where his ethics ought to be.

No Comments

Post A Comment