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U.S. VP Candidate Ryan Sold Bank Shares on Day of Fed Briefing - Report

DOW JONES NEWSWIRES U.S. Rep. Paul Ryan, Mitt Romney's vice-presidential running mate on the Republican ticket, sold stock in U.S. banks on the same day he attended a confidential meeting where top-level officials disclosed the sector was heading for a deep crisis, The Guardian newpsaper in the U.K. reported on its website. The congressman is facing questions about whether he profited from information gleaned from the meeting on Sept. 18, 2008 when Federal Reserve chairman Ben Bernanke, then treasury secretary Hank Paulson and others outlined their fears for the banking sector, the newspaper said. Public records show that on the same day, Ryan sold stock in troubled banks including Wachovia and Citigroup (C) and bought shares in Goldman Sachs (GS), Paulson's old employer and a bank that had been disclosed to be stronger than many of its rivals, The Guardian said. The sale wasn't illegal at the time, the newspaper added. Not long after the meeting, Wachovia's already troubled share price went into free fall, The Guardian said. It plunged 39% on the afternoon of Sept. 26, 2008, alone as investors worried the bank would collapse, the newspaper said. It was eventually taken over by Wells Fargo for $15 billion, a fraction of its former value, The Guardian said. Citigroup's share price fell soon after the meeting, the U.K. newspaper said. In October 2008 Citigroup was among the largest beneficiary of the troubled asset relief program, the taxpayer-funded bailout of the banking sector, The Guardian said. Newspaper website: http://guardian.co.uk Dow Jones Newswires; dennis.baker@dowjones.com Order free Annual Report for Goldman Sachs Group, Inc. Visit http://djnweurope.ar.wilink.com/?ticker=US38141G1040 or call +44 (0)208 391 6028 Order free Annual Report for Wells Fargo & Co. Visit http://djnweurope.ar.wilink.com/?ticker=US9497461015 or call +44 (0)208 391 6028

Stock News for Citigroup (C)
DateTimeHeadline
03/26/201522:20:12Citi to Sell Diners Club Credit Card Operations in Japan
03/26/201521:09:30Portfolio Changes For The First Quarter Of 2015
03/26/201516:02:26Current Report Filing (8-k)
03/26/201515:47:03Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/26/201515:03:42Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/26/201509:29:34Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
03/26/201509:00:00Goodyear and Citi Retail Services Announce Renewal of Long-term...
03/25/201517:26:27Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/25/201511:12:09Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/25/201506:39:12Citi Appoints Catherine Cai To Head China Investment Banking
03/25/201506:02:41Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/24/201521:31:15Fiat Chrysler CEO's Testimony Starts in Jeep Lawsuit--Update
03/24/201517:25:48Fiat Chrysler CEO's Testimony Starts in Jeep Lawsuit--Update
03/24/201517:06:44Fiat CEO to Testify In Boy's Wrongful Death Lawsuit
03/24/201511:56:54Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
03/24/201510:29:01Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/23/201520:35:29Banks Shift Bond Portfolios
03/23/201518:01:59What's Good For Citigroup Is Fantastic For Real Estate Too
03/23/201517:44:29This Market Could Grow 6250% in 10 Years
03/23/201511:14:20Should I Swap My Citi Shares With HSBC Shares?

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