In Sept. 2008 Rep. Jim Moran dumped shares in 90 companies and let ordinary Americans twist slowly, slowly in the wind

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11/14/2011, "FULL DETAILS: How Congress Insider Traders Abused The Public's Trust During The Financial Crisis," Business Insider, Zeke Miller and Michael Brendan Dougherty

In Sept. 2008 Rep. Jim Moran was among several members of congress who dumped shares after receiving inside information. Rep. Moran let ordinary Americans twist slowly, slowly in the wind as they took massive losses he avoided:

"Rep. Jim Moran (D-Virginia)"

"Here are what some of the stocks Jim Moran dumped did in the month after he sold them. These are losses that he avoided:...

The Play: On September 17, the day after Paulson and Bernanke had a private doomsday-meeting with Congress, Jim Moran dumped shares in 90 companies,
including Goldman Sachs, DirecTV, Cisco, General Dynamics, Ecolabs, AT&T, Electronic Arts, and Franklin Resources.

Moran thus avoided the massive losses that hit the portfolios of the public days later.

To take one example. AT&T's stock price was hovering around $30.43 when Moran sold it. Within a month of his sale, the price had tanked to 22.42."...

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Comment: Investment losses are always possible unless you're a member of the US political class.


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