Tuesday, August 11, 2009

OSaching Your Gold

clipped from www.nypost.com

Speaking Thursday night at a campaign rally in Tysons Corner, Va., Obama pleaded his case that we've turned the corner economically -- despite a record number of people on food stamps and no slowdown in home foreclosures -- with these words: "I'm convinced that actions we've taken in the first six months have helped stop our economic freefall. . . . We're losing jobs at half the rate we were at the beginning of the year."

But the president appears to have helped people who weren't in that crowd break the laws against insider trading.

The White House and the Treasury Department get the jobs report one hour after the financial markets close on Thursday. But the rules are that these numbers are confidential, and they are supposed to stay secret for a reason.

Another curious thing happened before the employment report was made public.

Sometime before late afternoon Thursday, Goldman Sachs suddenly broke with the Wall Street pack that was predicting a loss of 320,000 or so jobs in July.