Wednesday, Dec 02nd

Last update07:51:11 AM GMT

You are here News Congress Congressional Hypocrites Were Betting Against Stocks As Country Collapsed

Congressional Hypocrites Were Betting Against Stocks As Country Collapsed

E-mail Print PDF

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.


Most Recent Related Stories...

Obama signs defense bill despite Guantanamo provisions

Obama signs defense billPresident Barack Obama on Wednesday signed a $607 billion defense policy bill, despite his opposition to...

Congress Shorted 9/11 Responders By $12 Billion

Congress shorts first respondersWhen Congress rushed to finish a 9/11 health and compensation bill in 2010, just before Christmas,...

Ex-staffer sues Gowdy and Benghazi panel

Gowdy and Benghazi panel suedThe ex-GOP House Benghazi investigator who accused the panel of conducting a partisan witch-hunt against Hillary...

Senate passes legislation barring transfer of Guantánamo prisoners to US

Senate passes legislation barring Gitmo prisoners from USBarack Obama’s efforts to fulfil his promise of closing the Guantánamo Bay detention centre before he...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!