General Discussion
In reply to the discussion: Paul Ryan traded on insider information to avoid 2008 crash! [View all]coalition_unwilling
(14,180 posts)article on Slate by Matthew Yglesias:
"From a lawyer with 25 years of practice...about 17 of those in financial services regulation and the private sector:
Slate is incorrect--no-one is exempt from insider trading laws, not Congress, not Martha Stewart. At issue is whether or not Mr. Ryan ACTED UPON material, non-public information. IF this article is true, he engaged in two potentially illegal transactions....selling stock in at-risk banks and investing in Goldman Sachs. One does not even have to profit from the material, non-public information (although its much easier to prosecute if the insider did profit). Again IF TRUE, he had direct insider knowledge, not then available to the public, through an in camera briefing as a result of his position in Congress. Highly doubtful the SEC and/or Justice Department would investigate this allegation, since they would most likely be accused of political motivation...Sad..."
http://www.slate.com/blogs/moneybox/2012/08/13/paul_ryan_used_inside_info_to_profit_from_the_financial_crisis.html?wp_login_redirect=0
As I read this, Ryan's congressional position did not give him immunity from insider trading laws.