Durbin cashed out during big stock collapse

Sun Times.com ^ | 6/15/2009 | Puppage

[Puppage]

click on link - Bloomberg content

[Puppage]

Wadda guy!

[rahbert]

Wouldn’t that be considered insider trading if you or I acted on info from a closed meeting with the Fed Chairman?

[dirtboy]

Just goes to show that Senators, Representatives and their spouses should be required to be in blind trusts as long as they are in office.

[ignorancerunsrampant]

"Durbin was doing what a lot of other people were doing, taking a look at their savings" and seeing it "start to tank and trying to preserve some level of wealth by getting out of the market," said his spokesman, Joe Shoemaker.

As I said in the post that I put up, ... Durbin was trading with insider information. Shoemaker was wrong. Durbin was not doing what a lot of other people were doing, unless he was talking about the people at Goldman Sachs!

[HIDEK6]

Whatever information Paulson gave lawmakers wasn't secret or classified and was disclosed publicly the next day

Isn't that the problem?

[lormand]

He's a DemocRAT, and the RATS run Washington and control the media.

Durbin could get caught planting an IED with the Taliban, and Illinois would reelect him, and Harry Reid would kiss his butt.

[dirtboy]

Whatever information Paulson gave lawmakers wasn't secret or classified and was disclosed publicly the next day, Shoemaker said.

Timing is everything. If Durbin acted BEFORE the info was made public, he was ahead of the herd.

[silverleaf]

Oh sure, last September most of us ordinary stiffs were cashing out our mutual funds

and buying Berkshire Hathaway at $3000 per share

(eye roll)

[Road Warrior ‘04]

Insider trading happens “the day before” the information is made public!

[raptor29]

No Republican on Capitol Hill will have enough guts to raise the issue, so again, there are no ramifications for Democrat illegality. We get what earn, and the beat goes on.

[Oldexpat]

Looks like he may have lost money either way. He should have stayed in cash.

[Jeff Chandler]

Just goes to show that Senators, Representatives and their spouses should be required to be in blind trusts as long as they are in office.

Silly poster. Rules are for Republicans.

[hugorand]

Lazy reporting. Why didn’t they look at the performance of Berkshire Hathaway during the same time and since, and report that? Durbin probably thought he would do better, but I doubt it. Berkshire probably had somewhat similar performance to the S&P.

[hoosiermama]

I wondered when MadeOff was exposed if Berkshire Hathaway was next.

[shove_it]

>>>”Looks like he may have lost money either way. He should have stayed in cash.”

Exactly. BRK-B followed the S&P down 40% to March low. Insider info sucked in this case.

[Don Corleone]

Wouldn’t that be considered insider trading if you or I acted on info from a closed meeting with the Fed Chairman?

Didn't Martha Stewart get some time in the Graybar Hotel for a similar incident???

[Dahoser]

Durbin could get caught planting an IED with the Taliban, and Illinois would reelect him, and Harry Reid would kiss his butt.

As would most Republicans because they've let him slide on calling our troops Nazis, Soviet gulag guards, and Cambodian mass murderers. (Same with Murtha calling the Marines cold-blooded murderers and Jean Francois Kerry calling the troops terrorists.) Meanwhile, the RATS still pile on Nixon whenever the opportunity arises as well as other Republicans or conservatives such as Dan Quayle, Clarence Thomas and their newest 24x7 target, Sarah Palin.

[Diogenesis]

-Can you say DNC-PLANNED October Surprise"? Of course you can.

---

October Surprise to THROW Election2008, driven by Paulson/Geithner/Dodd/Obama and the ever-so-willing MSM (New Knee-Pad-clad Media).

Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks"
"On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve
noticed a tremendous draw down of money market accounts in the USA
to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically. The treasury tried to help with $150 Billion.
But could not stem the tide. It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon.
Within 3 hours. $5.5 Trillion would have been withdrawled
and collapsed and within 24 hours the world economy."

---

FLASHBACK: from 9/15/08:

“U.S. President George W. Bush said Monday he is confident
that the markets are resilient and can deal with the latest financial blows.
“We are working to reduce disruptions and minimize the impact
these financial market developments on the broader economy.” ...

U.S. Democratic presidential candidate Barack Obama
said eight years of Bush “brought us the most serious financial crisis
since the Great Depression.”

His Republican rival said John McCain said he was happy the
federal government decided not to use taxpayer dollars to bail out Lehman Brothers.”

How did Obama and the Democrats all know THEN
that we would experience the ‘most serious financial crisis since the Great Depression’

[lormand]

I agreee. Then the GOP would apologize to the State Controlled Media for Rush Limbaugh’s attack on democRAT corruption.

[jmcenanly]

If a Republican were even imagined to be doing this, he’d be the lead story on every nightly network newscast, Keith Olbermann would be proclaiming him to be the worst person in the known Universe, and Michael Moore would be stalking him. Because he has a (D) after his name, what he has done reamins largely hidden.