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Thu Oct 15, 2020, 11:32 AM

Republican Stock Market Crime

https://www.marketwatch.com/story/private-white-house-briefings-led-investors-to-short-market-and-stock-up-on-toilet-paper-report-says-11602747325?mod=home-page

Private White House briefings led investors to short market and stock up on toilet paper, report says

Last Updated: Oct. 15, 2020 at 10:40 a.m. ETFirst Published: Oct. 15, 2020 at 3:35 a.m. ET
By Steve Goldstein

Private briefings from two senior White House aides to a conservative institution at the outset of the coronavirus outbreak led investors to short the stock market and even load up on toilet paper, according to a published report.
Tomas Philipson, then the chairman of the Council of Economic Advisers, and Larry Kudlow, the director of the National Economic Council, told the Hoover Institution of the uncertainties surrounding the coronavirus in far more stark terms than those in which they had informed the public, according to the New York Times. The report said Philipson said on Feb. 24 to the Hoover Institution that the White House could not quantify the economic impact, and Kudlow the next day said “we just don’t know” how contained the virus will be.

That led William Callanan, a Hoover board member, to write a memo to David Tepper, the founder of the hedge-fund firm Appaloosa Management, and a Tepper aide, the report said. Callanan allegedly wrote that he found it striking that they both mentioned these concerns, unprovoked. The email was circulated to other Appaloosa employees, who discussed the memo with other investors. The report said the memo helped convince investors to short the stock market.
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Reply Republican Stock Market Crime (Original post)
saidsimplesimon Oct 15 OP
KPN Oct 15 #1
empedocles Oct 15 #2
saidsimplesimon Oct 15 #3
empedocles Oct 15 #4

Response to saidsimplesimon (Original post)

Thu Oct 15, 2020, 11:42 AM

1. And a lot of regular people, especially retirees who depend on their retirement savings, lost a lot

of money. I speak as one of those. This administration has manipulated the markets consistently over it's 4 year span. Fortunately, my wife and I had already become reticent about being invested heavily during the tRump reign of terror and had lowered our risk exposure already when the market plummeted through the remainder of Feb onto late March. Had we not already reached this point, we would really be hurting instead of simply having to be a bit more careful about living within our means.

I have no doubt there has been a lot of insider trading going on around the Orange Bastard's upcoming tweets in the past 4 years. Calling it corrupt is putting it lightly. It's criminal and should be investigated and prosecuted to the hilt in my opinion.

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Response to saidsimplesimon (Original post)

Thu Oct 15, 2020, 11:43 AM

2. That may be just the tip, of the tip, of the ugly iceberg.

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Response to empedocles (Reply #2)

Thu Oct 15, 2020, 11:50 AM

3. You are correct.

I hope rumpie and his pals face both criminal investigation and financial ruin.

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Response to saidsimplesimon (Reply #3)

Thu Oct 15, 2020, 12:41 PM

4. I suspect trump et al are smirking themselves silly, at how easy it was to

'play' the market.

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