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Another corrupt republican?
Washington — Rep. John Boehner, the House of Representatives minority leader, paid lawyers $110,000 to represent four of his staff members who were interviewed by the Securities and Exchange Commission in an investigation into whether Albert L. Lord, Sallie Mae’s chairman, was given inside information about President Bush’s 2008 budget, The Hill reported today.
Mr. Lord sold 400,000 shares of Sallie Mae stock for $18.3-million in early February, only three days before President Bush unveiled a budget containing more than $17-billion in cuts to subsidies for the lending industry. The day of the budget’s release, Sallie Mae stock plunged 9 percent, to $42.37 per share, a two-year low. If Mr. Lord had sold at that price, he would have received about $1.4-million less for his shares.
In May, House Democrats released internal documents from the student-loan giant that revealed that Sallie Mae lobbyists had met with White House officials ...
Washington — Rep. John Boehner, the House of Representatives minority leader, paid lawyers $110,000 to represent four of his staff members who were interviewed by the Securities and Exchange Commission in an investigation into whether Albert L. Lord, Sallie Mae’s chairman, was given inside information about President Bush’s 2008 budget, The Hill reported today.
Mr. Lord sold 400,000 shares of Sallie Mae stock for $18.3-million in early February, only three days before President Bush unveiled a budget containing more than $17-billion in cuts to subsidies for the lending industry. The day of the budget’s release, Sallie Mae stock plunged 9 percent, to $42.37 per share, a two-year low. If Mr. Lord had sold at that price, he would have received about $1.4-million less for his shares.
In May, House Democrats released internal documents from the student-loan giant that revealed that Sallie Mae lobbyists had met with White House officials ...
shortly before the budget's release.
The four staff members who were interviewed by the commission have been absolved, but the investigation into the possible leak continues, The Hill reported. The commission has not sought to interview Mr. Boehner, who has received thousands of dollars in campaign contributions from Sallie Mae over his Congressional career.
We need some evidence (besides circumstantial) that he knew about the budget change before he ordered the shares sold
The four staff members who were interviewed by the commission have been absolved, but the investigation into the possible leak continues, The Hill reported. The commission has not sought to interview Mr. Boehner, who has received thousands of dollars in campaign contributions from Sallie Mae over his Congressional career.
We need some evidence (besides circumstantial) that he knew about the budget change before he ordered the shares sold
Rep. John Boehner (R -OH) is an inside trader
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