Post by Clipper on Jun 16, 2009 13:30:56 GMT -5
Newsmax.com is reporting that Dick Durbin, Senator from Illiniois, sold $115,000 worth of stocks and mutual funds after a briefing by then Secretary of the Treasury, Henry Paulson, and then Fed Chairman, Ben Bernanke, urging lawmakers to pass legislation to aid troubled banks.
The briefing was on Sept 18th 2008, and on Sept 19th, Durbin sold $42K worth of mutual fund shares, and purchased over 43K worth of Warren Buffet's Berkshire Hathaway Inc. By October 1st he had sold $116,000 worth of stock and purchased over $100K worth of Berkshire Hathaway.
While it may be perfectly legal and on the up and up, it damn sure looks suspicious does it not. While we took a bath, he got inside information or a hint as such, and did his thing.
Is that not something like what cost Martha Steward some jail time and a public outcry against her?
My next question would be this: While we all took a bath on our mutual funds, 401K's and other market investments, how many congressman and senators hedged their bets, and got early information that allowed them to protect their investments, or even to make money off the misfortunes of the rest of us?
If there is no illegal goings on, it damn sure has a cloud of suspicion hanging over it and the appearance is less than honest and honorable.
I don't put a lot of creedence in Newsmax.com, but this caught my eye.
The briefing was on Sept 18th 2008, and on Sept 19th, Durbin sold $42K worth of mutual fund shares, and purchased over 43K worth of Warren Buffet's Berkshire Hathaway Inc. By October 1st he had sold $116,000 worth of stock and purchased over $100K worth of Berkshire Hathaway.
While it may be perfectly legal and on the up and up, it damn sure looks suspicious does it not. While we took a bath, he got inside information or a hint as such, and did his thing.
Is that not something like what cost Martha Steward some jail time and a public outcry against her?
My next question would be this: While we all took a bath on our mutual funds, 401K's and other market investments, how many congressman and senators hedged their bets, and got early information that allowed them to protect their investments, or even to make money off the misfortunes of the rest of us?
If there is no illegal goings on, it damn sure has a cloud of suspicion hanging over it and the appearance is less than honest and honorable.
I don't put a lot of creedence in Newsmax.com, but this caught my eye.