You wouldn't believe who was shorting the market before the crash

United States
May 5, 2010 9:31pm CST
The Wall Street Journal did a story about our elected lawmakers shorting the market in 2008 right before the huge crash. One lawmakers husband shorted the home builders, making a lot of money off of what many would call insider information. Now, currently this is completely legal, but there is a bill on the floor that would stop this from happening. What do you think? http://www.cnbc.com/id/15840232?video=1486368488&play=1
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1 response
laglen
@laglen (19759)
• United States
6 May 10
I can believe this. I would think with their inside knowledge, they should not be able to trade stock.
1 person likes this
thegreatdebater
@thegreatdebater (7316)
• United States
6 May 10
They can, and in many cases they due. The big question is what is going to happen to the husband of the representative who shorted the home builders. There is also a lot of resistance from both sides of the isle to keep this legal.
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laglen
@laglen (19759)
• United States
6 May 10
And both sides of the aisle should be called to task!
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thegreatdebater
@thegreatdebater (7316)
• United States
9 May 10
Thankfully, they are.
1 person likes this