Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, June 26, 2012

Lawmakers Tweak Their Portfolios After Talking with Administration Officials

In case you missed it, this is well worth reading: 

On Sunday the Washington Post reports on 34 members of Congress who reworked their financial portfolios during the financial crisis after phone calls or meetings with Treasury Secretary Henry Paulson, Timothy Geithner or Fed Chairman Bernanke, according to the newspaper's examination of appointment calendars and congressional disclosure forms.  The lawmakers changed portions of their portfolios 166 times within two business days of speaking or meeting with administration officials.  The paper did not turn up evidence of insider trading.  According to Professor Richard Painter (Minnesota), "Members of Congress are still loosey-goosey about what they require of themselves."  WPost, Lawmakers reworked financial portfolios after talks with Fed, Treasury officials

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