Senator Durbin Sold Off Stock After Getting Non-Public Briefing From Treasury, Federal Reserve

Proof • June 15, 2009

As U.S. stock markets plummeted last September, the Senate’s No. 2 Democrat, Dick Durbin, sold more than $115,000 worth of stocks and mutual-fund shares and used much of the money to invest in Warren Buffett’s Berkshire Hathaway Inc.
The Illinois senator’s 2008 financial disclosure statement shows he sold mutual-fund shares worth $42,696 on Sept. 19, the day after then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke urged congressional leaders in a closed meeting to craft legislation to help financially troubled banks. The same day, he bought $43,562 worth of Berkshire Hathaway’s Class B stock, the disclosure shows.

Durbin’s spokesman said that Senator Dick didn’t act on anything that wasn’t public knowledge, and that the information he got from the Treasury and the Federal Reserve was released publicly the next day.
Even so, I’ll bet most of the public wished they’d gotten the information at the same time Senator Durbin did.
It’s good to be a member of the ruling class, I guess.

Tags: Asshats, Domestic Issues, Politics

http://www.willisms.com/ Zsa Zsa

I was going to say didn’t Martha Stewart go to jail for the same thing? Hmmm? Lock him up!
sayanything-4625

Touche’ Zakk!
Bodhi

Didn't Martha Stewert go to jail for something like this?

She went to jail for lying to a federal investigator.
http://www.dartemis.net/blog/ sayanything-42

Sounds like an SEC investigation in the making, unless of course the Administration quashes it.
conundrum

if true, it should be jail time.
Zakk

Culture of Corruption? Of course what did we expect. The Democratic mantra, do as I say, not as I do.

Somehow this is Bush’s fault, I’m sure. Or wait, maybe the CIA is responsible.

Step down? Probably not.
Investigate? Probably not.
Transparent? Probably not.
Business as usual in Washington? Yep!
sayanything-4625

Why isn’t this guy being frog marched off to jail for insider trading?
Bodhi

I do not like Durbin, and really can not stand the democrats, but, Durbin did not act on anything more than was available to the public at that time. Bernake’s meeting was private, but Durbin sold on the same day that the public was notified. This will preclude this from being insider trading.
http://SayAnythingBlog.com The_Whistler_ofnd

Didn’t Martha Stewert go to jail for something like this?
Zakk

Why isn’t this guy being frog marched off to jail for insider trading?

– That’s easy, because he’s a Democrat.
TomTom

Martha Stewart? Call the cops on this bleeding crook..You went tp prison for the same thing!
docdave

Sheeeet, I’m betting there won’t even be a SEC investigation. Rule of the law doesn’t apply to Democrats.

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Senator Durbin Sold Off Stock After Getting Non-Public Briefing From Treasury, Federal Reserve

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