Illinois politicians are not known as being particularly adept at avoiding the appearance of impropriety. Dick Durbin is doing his part to keep that stereotype intact. One day after Bernanke and Paulson had a closed meeting with congressional leaders to discuss how to deal with failing banks, the Illinois senator had a very sudden change of heart regarding his personal investments and sold $115k worth of assets himself through his online Charles Schwab account. But far from acting on material non-public information, his spokesman said Durbin was just doing what all the other lemmings were doing at the time.
“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 spokesman Joe Shoemaker
Durbin Invests With Buffett After Funds Sale Amid Market Plunge [Bloomberg]
I am an SEC enforcement division staffer. What is material non-public information?
Greg, do you want to issue any statement regarding your 300+ comment post you had on Friday? Bess, feel free to weigh in as well.
@2
yes, greg, pls zero in on your feelings regarding the fact that ~200 of the comments were concerning your mother’s anus
ANUS!
“The SEC will catch you if you are working above the rules…its not like you can get away with it.”
-Madoff
2007
Re postings 2 through 4: are these all attributable to one douche or is this a team effort? Also, is there some humor intended? If so, please explain (or is the mere word funny regardless of how often repeated).
Thanks in advance, douch(es)
@6 – No, Yes, Yes.
This is non-story. Doesn’t Bloomberg have anything better to do? Everything this man did was disclosed, and is no different than what most investors who didn’t have their head in the sand were doing at that time, I believe. At least I was acting before the big plunge.
Even Greg knew what to do. Didn’t you become a multimillionaire shorting the crap out of the stock market using ETFs?
@6 Greg, Thanks for your statement
Durbin is the same schmuck that asked Bush and Obama to release George Ryan (the last Illinois governor that’s in the slammer). I would love to see where Shoemaker saw massive trading happen around the time Tricky Dick did his -stealing- selling.
Durbin is the same schmuck that asked Bush and Obama to release George Ryan (the last Illinois governor that’s in the slammer). I would love to see where Shoemaker saw massive trading happen around the time Tricky Dick did his -stealing- selling.
Damn, I wish I knew what Durbin’s doing now.
@12
Yeah, but then you’d need a time machine and go back 2 months to do what he is doing now.
Wow, this is far too convenient. This is some fucked up repugnant shit. Durbin is absolute garbage. I, for one, voted Salvi.