Friday, March 27, 2009

John Crudele with the Big Questions

Writes Crudele:

Tim Geithner admitted to Congress that he had to consult with "market participants" before putting together the plan announced last week to take troubled assets off banks' books in a partnership with private investors.

I wonder: Did Geithner prohibit these "market participants" from buying stocks and bonds ahead of the plan's announcement?

Or were these insiders able to use this confidential information to profit from the nearly 500-point jump in the Dow on Mon day?

Hank Paulson, Geithner's predecessor, also admitted regularly talking with market participants.

And I've always wondered how many times Paulson gave away inside information under the pretext of needing to get Wall Street's opinion.

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