Get sick, get well
Hang around a ink well
Ring bell, hard to tell
If anything is goin' to sell
-- Bob Dylan

Monday, June 13, 2011

Say it ain't so, Arne

DOE Officials Accused Of Leaking Info To Short-Sellers

Marcus Barum blogs on  Huffington Post:
Did Education Department officials leak market-sensitive info to stock traders?" That's the provocative headline from Project on Government Oversight reporting on a probe by the agency's inspector general into controversial claims that may implicate Education Secretary Arne Duncan.
The Daily Caller reports:
Oklahoma Republican Sen. Tom Coburn blasted the Education Department Wednesday for what he called “very significant inappropriate behavior in tipping hedge funds on short selling private education” and called on a key Senate panel to investigate the matter. Coburn was referring to documents released last week by Citizens for Responsibility and Ethics in Washington (CREW), a watchdog group that has called for federal authorities to investigate market manipulation by famous Wall Street short-seller Steven Eisman.
The Hill reports:
One email exchange shows a DOE employee informing a short seller of the expected date the rules would be proposed, a piece of information that then appeared in a Morgan Stanley investment report one week later.Wait! Morgan Stanley? Isn't that Bill Daley's company?

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