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UPDATED: 2008: Paul Ryan Traded Stocks On Insider Information From Bernanke As Market Was Collapsing

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Editor’s note: Please read the update at the bottom.

In September, 2008, as the stock market was teetering and just about ready to plunge the country and the world into a Great Depression, Congressman Paul Ryan, according to reports, used insider information he received as a Congressman to sell stocks and avoid enormous financial losses. Ryan, who is now the Chairman of the House Budget Committee, “traded on insider information to avoid 2008 crash,” The Richmonder — which published Ryan’s financial disclosure form for 2008 – reports:

Ryan attended a closed meeting with congressional leaders, Bush’s Treasury Secretary Henry Paulson, and Federal Reserve Chairman Ben Bernanke on September 18, 2008. The purpose of the meeting was to disclose the coming economic meltdown and beg Congress to pass legislation to help collapsing banks. Instead of doing anything to help, Ryan left the meeting and on that very same day Paul Ryan sold shares of stock he owned in several troubled banks and reinvested the proceeds in Goldman Sachs, a bank that the meeting had disclosed was not in trouble.

Matt Yglesias at Salon says, “Let’s put this in the ‘the real scandal is what’s legal’ file,” writing:

This kind of trading might be illegal now, but was definitely kosher back then when insider trading rules didn’t apply to congress at all. My guess is that it’s probably fine even under today’s rules, since even though it fits the ordinary language meaning of “insider information” it doesn’t actually make Ryan an insider to the companies in question in a legal sense. But it’s about as clear an example of a public official trying to use his office to obtain personal benefits as you’re likely to find.

Congressman Paul Ryan, who is now Mitt Romney’s VP candidate, has seen his net worth increase “by up to 130 percent in a decade,” according to the Seattle Times:

Federal financial disclosure forms show that last year Ryan, 42, had assets of between $2.1 million and $7.8 million — figures that include a trust valued at between $1 million and $5 million inherited by his wife, Janna, after her mother died in 2010. A disclosure form said Ryan had assets of $479,000 to $1.6 million in 2001.

The disclosure forms do not require elected officials to give exact values of assets or income. Rather, they allow ranges, such as between $1 million and $5 million.

Excluding the inheritance, Ryan’s net worth increased by up to 130 percent in a decade marked by a deep recession and a volatile stock market.

UPDATE: 4:08 PM —

Matt Yglesias has walked back his statement, looking at the timeline of probably events. Whether or not Ryan traded stocks before or after his meeting with Bernanke, it’s reasonable to think he knew what the Bernanke closed door conversation was going to look like. Coincidence, or not?

Via Yglesias:

Let me apologize. I originally had a too-credulous item here linking to a piece at The Richmonder alleging that Paul Ryan has sold bank shares after a closed door meeting with Henry Paulson and Ben Bernanke on the financial crisis in 2008. As Eric Platt explains he certainly seems to have sold the shares on the same day as the meeting, but the meeting happened in the evening by which time the markets would have been closed. One can perhaps construct a scenario by which the Richmonder’s theory of the case holds up, but they don’t have the goods and I shouldn’t have passed their analysis on with no qualification and so little scrutiny of my own.

Related:

Romney: Paul Ryan Will Be My VP (Or, Everything You Wanted To Know But Were Afraid To Ask)

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‘Antisemitism Is Wrong, But’: Marjorie Taylor Greene Pilloried for Promoting Antisemitic Claim

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U.S. Rep. Marjorie Taylor Greene (R-GA) was strongly criticized Wednesday after promoting a historically and biblically false, antisemitic claim while declaring antisemitism is wrong.

As the House voted on an antisemitism bill that would require the U.S. Dept. of Education to utilize a certain definition of antisemitism when enforcing anti-discrimination laws, the far-right Christian nationalist congresswoman made her false claims on social media.

“Antisemitism is wrong, but I will not be voting for the Antisemitism Awareness Act of 2023 (H.R. 6090) today that could convict Christians of antisemitism for believing the Gospel that says Jesus was handed over to Herod to be crucified by the Jews,” Greene tweeted.

The definition of antisemitism the House bill wants to codify was created by the International Holocaust Remembrance Alliance.

Congresswoman Greene highlighted this specific text which she said she opposes: “Using the symbols and images associated with classic antisemitism (e.g., claims of Jews killing Jesus or blood libel) to characterize Israel or Israelis.”

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What Greene is promoting is called “Jewish deicide,” the false and antisemitic claim that Jews killed Jesus Christ. Some who adhere to that false belief also believe all Jews throughout time, including in the present day, are responsible for Christ’s crucification.

Greene has a history of promoting antisemitism, including comparing mask mandates during the coronavirus pandemic to “gas chambers in Nazi Germany.”

Political commentator John Fugelsang set the record straight:

“If only you could read,” lamented Rabbi Dr. Mark Goldfeder, Esq., CEO and Director of the National Jewish Advocacy Center. The Antisemitism Awareness Act “could not convict anyone for believing anything, even this historical and biblical inaccuracy. It only comes into play if there is unlawful discrimination based on this belief that targets a Jewish person. Do you understand that distinction @RepMTG ?”

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“Not surprising,” declared Jacob N. Kornbluh, the senior political reporter at The Forward, formerly the Jewish Daily Forward. “Rep. Marjorie Taylor Greene, who has been accused in the past of making antisemitic remarks — including her suggestion that a Jewish-funded space laser had sparked wildfires in California in 2018, voted against the GOP-led Antisemitism Awareness Act.”

Jewish Telegraphic Agency Washington Bureau Chief Ron Kampeas, an award-winning journalist, took a deeper dive into Greene’s remarks.

“Ok leave aside the snark. The obvious antisemitism is in saying ‘the Jews’ crucified Jesus when even according to the text she believes in it was a few leaders in a subset of a contemporary Jewish community. It is collective blame, the most obvious of bigotries.”

“The text she presumably predicates her case on, the New Testament,” he notes, “was when it was collated a political document at a time when Christians and Jews were competing for adherents and when it would have been plainly dangerous to blame Rome for the murder of God.”

“Yes,” Kampeas continues, “that take is obviously one that a fundamentalist would not embrace, but it is the objective and historical take, and *should* be available to Jews (and others!) as a means of explaining why Christian antisemitism exists, and why it is harmful.”

CNN’s Edward-Isaac Dovere also slammed Greene, saying she “is standing up for continuing to talk about Jews being responsible for the killing of Jesus. (John & Matthew refer to some Jews handing over Jesus to Pilate,not Herod. But also: many, including Pope Benedict, have called blaming Jews a misinterpretation)”

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MAGA State Superintendent Supports Chaplains in Public Schools – But Not From All Religions

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Visitors to Oklahoma’s State Schools Superintendent’s personal social media page will notice a post vowing to “ban Critical Race Theory, protect women’s sports, and fight for school choice,” a post linking to a Politico profile of him that reads, “Meet the state GOP official at the forefront of injecting religion into public schools,” a photo of him closely embracing a co-founder of the anti-government extremist group Moms for Liberty, and a video in which he declares, “Oklahoma is MAGA country.”

This is Ryan Walters, a far-right Republican Christian nationalist who is making a national name for himself.

“God has a place in public schools,” is how Politico described Walters’ focus.

Last week the Southern Poverty Law Center published an extensive profile of Walters, alleging “hateful rhetoric toward the LGBTQ+ community, calls to whitewash curriculum, efforts to ban books, and attempts to force Christian nationalist ideology into public school classrooms.”

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“Walters is superintendent of public instruction, and public schools are supposed to serve students of all faiths, backgrounds and identities,” Sarah Kate Ellis, president and CEO of GLAAD, told SPLC.

Walters is supporting new legislation in Oklahoma that follows in Texas’ footsteps: allowing untrained, unlicensed, uncertified, and unregulated religious chaplains and ministers to be hired as official school counselors.

“We heard a lot of talk about a lot of those support staffs, people such as counselors, having shortages,” Rep. Kevin West, a Republican, said, KFOR reports. “I felt like this would be a good way to open that door to possibly get some help.”

Walters praised West, writing: “Allowing schools to have volunteer religious chaplains is a big help in giving students the support they need to be successful. Thank you to @KevinWestOKRep for being the House author for this bill. This passed the House yesterday and moves on to the Senate where @NathanDahm is leading the charge for this bill.”

As several Oklahoma news outlets report, there’s a wrinkle lawmakers may not have anticipated.

“With the Oklahoma House’s passage of Senate Bill 36, which permits the participation of uncertified chaplains in public schools, The Satanic Temple (TST) has announced its plans to have its Ministers in public schools in the Sooner State. If the bill advances through the Senate, this legislation will take effect on November 1, 2024. State Superintendent Ryan Walters, a vocal advocate for religious freedom in schools, has endorsed the legislation. The House approved SB 36 by a 54-37 vote on Wednesday,” a press release from The Satanic Temple reads. “The Satanic Temple, a federally recognized religious organization, has expressed its dedication to religious pluralism and community service.”

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Walters responded on social media to The Satanic Temple’s announcement.

“Satanists are not welcome in Oklahoma schools, but they are welcome to go to hell,” he wrote.

Former Lincoln Project executive director Fred Wellman served up an equally colorful response.

“Hahahaha!!! You are an idiot,” Wellman wrote. “How did you not see this coming? Satanists, Muslims, Jews, Buddhists, Pastafarians…come one come all! After all you’re not trying to establish Christianity as the state religion are you? We had a whole ass revolution about that. There are history books about it…oh…right. Not your thing. What a fool.”

The Freedom From Religion Foundation (FFRF) served up a warning.

“The state of Oklahoma cannot discriminate against people or groups based on their religious beliefs,” the non-profit group wrote. “Walters’ hateful message shows, one again, that he only believes in religious freedom for Christians and that he is unfit to serve in public office.”

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Potential Trump VP Pick Says ‘If You’re a Billionaire’ You Should Vote for Trump

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One of the possible picks to be Donald Trump’s vice presidential running mate, seen as “rapidly ascending” the list, is urging billionaires to vote for the ex-president.

North Dakota Republican Governor Doug Burgum “is quickly moving up former President Trump’s list of possible vice presidential picks because Trump’s team believes he would be a safe choice who could attract moderate voters,” Axios reported on Sunday. “Burgum is on a long list of VP contenders, but Trump’s rising interest in the North Dakota governor has been clear in recent weeks — and reveals his latest thinking about how he thinks his running mate could help him with undecided voters.”

Praising Governor Burgum, the National Review’s Michael Brendan Dougherty on Monday wrote he was “the only candidate in 2024 to easily exceed expectations in the debates.”

“He is a well-liked governor from a small state. He projects seriousness and sobriety, two qualities Pence also had that were important to balance the 2016 Republican ticket. Burgum is also good at championing Republican policy, including our desperately needed policies of energy abundance and supply-side reform. He is also the right age — 67 — with no signs of slowing down. Burgum needs to survive the millions poured into opposition research, but, if he does, I think he would bring credit and balance to the Republican ticket.”

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On Tuesday, Gov. Burgum, appearing on Fox News, told Laura Ingraham, “when you see someone who cares this deeply about this country, what he’s going through and what the Democrats and the liberal media is putting him through, and how he gets up and fights for every day people in America every day, and then his policies are all in the right direction.”

“If you’re a billionaire and you care about your shareholders, you care about your family and your grandkids, you should be voting for someone that’s going to bring prosperity to America and peace to the world, that’s what President Trump is going to do, that’s what he did for us when he was president,” Burgum claimed.

The Hill adds, “Ingraham suggested a lot of billionaires are still planning to support President Biden, especially those that are the ‘Wall Street types.’”

Last year, asked if he would ever do business with Trump, Bergum told NBC News, “I don’t think so,” and added, “I just think that it’s important that you’re judged by the company you keep.”

Some reports call Bergum a billionaire, while Forbes last year reported it “estimates Burgum’s net worth to be at least $100 million.”

Watch the video below or at this link.

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