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IPFS News Link • Corruption

Sen. Durbin cashed out before big stock collapse

• Sun Times

[insider trading alert] 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. 

1 Comments in Response to

Comment by Powell Gammill
Entered on:

The fact that he did it immediately after a secret briefing by the Treasury Dept. and Federal Reserve is a crime.  Sinking your money into Berkshire Hathaway figuring it would be safe...priceless. 



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