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Revealed: Fed Chair Jerome Powell sold
up to $5million worth of stock options
just before Dow Jones tanked last year
as central bank reels from resignation
of two regional chiefs who also cashed out

Original Article

Posted By: Ribicon, 10/18/2021 6:38:56 PM

Federal Reserve Chairman Jerome Powell sold between $1million and $5million worth of stock options that he owned just before the stock market tanked last year because the government failed to pass a stimulus measure, it has been reported. Powell’s stock sale was reported just weeks after two top officials with the central bank resigned and a third came under fire for making multi-million dollar stock trades during the COVID-19 pandemic.(Snip)Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren announced their retirements last month as they faced a backlash for cashing out while having knowledge of the central bank’s plans to bolster financial markets

Comments:

In days of yore these folks would be swinging from ropes, but in today's enlightened times we praise them as canny investors, and thank them for keeping the economy afloat on a sea of worthless paper.

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Reply 1 - Posted by: bogeegolf 10/18/2021 6:55:37 PM (No. 950107)
I still like to think of these people as future lamppost ornaments,OP. It helps me sleep at night.
8 people like this.

Reply 2 - Posted by: Jiobaobubai 10/18/2021 7:05:29 PM (No. 950113)
Yet Trump was the evil rich man.
8 people like this.

Reply 3 - Posted by: davew 10/18/2021 7:11:43 PM (No. 950115)
If he sold the options after the public reports of the breakdown in stimulus talks he's just a savy investor protecting his investments. If he had sold the options before the public information was released it would suggest he had inside information from parties to the talks. Just because he is the Fed Chair doesn't mean he has to take a vow of poverty. If he'd owned the underlying stocks his best move would have been to hold long term since most equities made new highs since 2020 but because options are time dependent he made the right move.
2 people like this.

Reply 4 - Posted by: MindMadeUp 10/18/2021 7:22:10 PM (No. 950119)
The evidence is clear: Being a political insider bestows amazing powers of intellect that allows you to pick and choose the right stocks to buy/sell and make money in the stock market. Look how many insiders become filthy rich from stock deals while in office. Obama, Pelosi, Biden, Schumer, the Clintons, this character, Powell, and the list goes on and on.
4 people like this.

Reply 5 - Posted by: scottj 10/18/2021 7:22:12 PM (No. 950120)
Just more liberal corruption. Liberals are criminals.
3 people like this.

Reply 6 - Posted by: DVC 10/18/2021 7:46:13 PM (No. 950142)
Crooked bankers, of course.
1 person likes this.

Reply 7 - Posted by: Lawsy0 10/18/2021 8:02:48 PM (No. 950159)
Has there ever been a bigger misnomer in this English Speaking sub-country than the words ''Federal'' and ''Reserve?'' Like the ''World Bank'' the ''Fed" is a one-person owned business in the business to make money. You should see how the employees of my local bank hem and haw and play dumb when asked about some of the policies recently put in place.
2 people like this.

Reply 8 - Posted by: stablemoney 10/18/2021 8:15:30 PM (No. 950174)
All the members of Congress have a money laundering scheme to get rich. The Fed is under attack to get rid of the conservatives on the board, so Biden can stuff it with liberal members to print trillions more for the Democrats.
1 person likes this.

Reply 9 - Posted by: Rumblehog 10/18/2021 9:05:52 PM (No. 950212)
Every single person in Government should be required to have their personal finances in "blind trusts," including Staffers, family members, and all their bank accounts open to free and open public disclosure. Don't like it, then don't run for public office.
0 people like this.

Reply 10 - Posted by: downnout 10/18/2021 9:36:59 PM (No. 950241)
Damn these people to Hell. It should be mandatory that ALL government officials and FED officials must put their stock holdings in a blind trust. It might not cure the problem but it would certainly help.
1 person likes this.

Reply 11 - Posted by: downnout 10/18/2021 9:38:11 PM (No. 950245)
Oops, sorry! Should have read #9 before posting.
1 person likes this.

Reply 12 - Posted by: MickTurn 10/19/2021 2:33:42 PM (No. 950999)
Insider Knowledge from Whom???
0 people like this.

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