Whitehouse Accused Of Profiting From Secret Congressional Information Shortly Before The ’08 Economic Meltdown
WASHINGTON — Yesterday, it was reported that in 2008 as Federal Reserve Chairman Ben Bernanke privately warned Congress of a looming economic meltdown, U.S. Senator Sheldon Whitehouse allegedly took this sensitive information and made trades on the stock market with it.
As WPRI-TV Providence Reports:
U.S. Sen. Sheldon Whitehouse is one of several prominent Washington lawmakers mentioned in a new book that accuses them of potentially making investment trades based on information they received as government officials. The book, “Throw Them All Out,” by former Bush administration official Peter Schweizer, alleges that Whitehouse made a flurry of trades in September 2008 as Federal Reserve Chairman Ben Bernanke was warning members of Congress about a possible financial collapse after Lehman Bros. filed for bankruptcy. (Book accusing Congress names Whitehouse, WPRI-TV , 11/15/11)
“It’s shocking that Senator Whitehouse would take sensitive information from Chairman Bernanke and then immediately use that information and adjust his financial portfolio,” said Rhode Island GOP Chairman Ken McKay. “Rhode Islanders deserve to know from Sheldon Whitehouse if he regularly leverages his position to gain inside information to increase his net worth or if he only does it when America’s economy is on the verge of a meltdown.”
Press Release: Rhode Island Republican Party


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