Tarp Insider Trading

http://www.futureofcapitalism.com/2010/04/tarp-insider-trading

The "Sigtarp" -- special inspector general Neil Barofsky -- says he is looking into "possible insider trading connected to TARP," Bloomberg News reports. "He says his agency would want to know if bankers bought stock in their companies before it was made public that their institutions would get TARP money, for example."

The Bloomberg story goes on:

"There's a reason there are Tea Partiers out there, and when you look at it, anger at the bailout is one of the first things they talk about," says Barofsky, referring to the anti- Obama political movement. "This Treasury Department and the previous Treasury Department bear some of the responsibility for not being straightforward with the American people."

It's interesting how Bloomberg assumes its readers need an explanation of what "Tea Partiers" are, and that it thinks that all the Tea Party is is an "anti-Obama political movement," which is a gross oversimplification because it ignores the Tea Party's opposition to spending and bailouts that happened under President Bush.

by Editor  |  Apr 28, 2010 at 9:36 am Related Topics:  Banking, Capital Markets Regulation, Politics, President Obama, Press receive the latest by email: subscribe to the free futureofcapitalism.com mailing list