It’s a rather intriguing and somewhat concerning fun fact: Under current laws, only politicians and their spouses can face charges related to bribery and insider information. This creates a peculiar exemption for their children, allowing them to engage in business deals and private conversations without legal consequences.
This legal nuance sheds light on a specific incident involving Jerome Powell, where his wife notably didn’t attend Jeff Bezos’s extravagant party on January 26th, 2020. When questioned about his own attendance at this lavish gathering, which took place only weeks before the stock market crash, Powell’s response was succinct: “I didn’t talk to anybody.”
The significance here lies in the broader context. This party occurred at the peak of emergency Repo Operations, just before these operations were scaled back, ultimately contributing to the subsequent market crash. It suggests that those in attendance, including Powell, may have been privy to information and developments well in advance.
The lingering question is whether such gatherings and interactions hold implications for the principles of free market economics. The proximity of these events to significant market shifts raises concerns about the transparency and fairness of financial systems, and whether key players were aware of impending developments long before they occurred.
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Fun Fact: Under the current law only politicians & their spouses can be charged with bribery & insider information.
Children are exempt, allowing them to engage in business deals & private conversations. That's why Powell's wife didn't attend Jeff Bezos party on Jan 26th, 2020. t.co/giTI7czJo8 pic.twitter.com/r9qNG6brL2
— Financelot (@FinanceLancelot) September 20, 2023
When asked about attending Jeff Bezos's lavish party in January 2020, only weeks before the stock market crash, Jerome Powell responded "I didn't talk to anybody" 😉 t.co/ekjQrntw8o pic.twitter.com/rcTT3JI0h2
— Financelot (@FinanceLancelot) August 20, 2023