Lawmakers reworked financial portfolios after talks with Fed, Treasury officials

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Lawmakers reworked financial portfolios after talks with Fed, Treasury officials 24 Jun 2012 In January 2008… the subprime mortgage industry was collapsing, and the Dow Jones industrial average had lost more than 2,000 points in less than three months. House Minority Leader John A. Boehner became the Bush administration’s point person on Capitol Hill to negotiate a $ 150 billion stimulus package. In the days that followed, Treasury Secretary Henry M. Paulson Jr. made frequent phone calls and visits to Boehner. Neither Paulson nor Boehner would publicly discuss the progress of their negotiations to shore up the nation’s financial portfolio. On Jan. 23, Boehner (R-Ohio) met Paulson for breakfast. Boehner would later report the rearrangement of a portion of his own financial portfolio made on that same day. He sold between $ 50,000 and $ 100,000 from a more aggressive mutual fund and moved money into a safer investment.

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