Today, WSJ is reporting that:
U.S. Treasury Secretary Henry Paulson is insisting that if Fannie Mae (FNM.N) and Freddie Mac (FRE.N) need rescuing, the plan should not benefit shareholders of the giant mortgage finance firms.
This news should drive down all bank stocks. While former Paulson employee Randal Quarles does everything he can for his new employers, the Carlyle Group, to buy up the bank stocks that Paulson is driving down in price.
Get it? Paulson statements drive down bank stocks, former Paulson Treasury employee Quarles buys up banks stocks driven down by Paulson, for his new employees, the ultimate insiders, the Carlyle Group.
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