Treasury Sec’y Paulson tipped off hedge funds before 2008 gov’t takeover of Fannie and Freddie. “You just never ever do that as a government regulator — transmit nonpublic market information to market participants,” says a former general counsel at the Federal Home Loan Bank of San Francisco. “There were no legitimate reasons for those disclosures.” Of course, there ARE illegitimate reasons for it… crony capitalism, for one.
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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