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stirs

Another missed scandal

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cookinwithgas    7,375

Shouldn't you name this thread "Another bit of useless information that says nothing"?

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.

Altogether, Durbin sold investments worth $116,000 in September. By Oct. 2, he had invested $98,046 in Omaha, Neb.-based Berkshire Hathaway, the form shows.

The Standard & Poor's 500 index plunged 4.7 percent last Sept. 15 after the bankruptcy of Lehman Brothers Holdings Inc. and Bank of America Corp.'s government-engineered takeover of Merrill Lynch & Co. By the end of October, the index had fallen 22.6 percent.

"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.

Shoemaker said Durbin didn't capitalize on anything Paulson and Bernanke told congressional leaders at the Sept. 18 meeting.

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

Sounds like a smart investor.

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stirs    6,508

And this is what I was speaking of the other day about the media.

The media will hold off and check out everything before reporting this.

If it were an ® beside his name, CNN and the rest would have had it in their first 5 minutes of broadcast.

® means crook

(D) means smart investor

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Matt Foley    1

And this is what I was speaking of the other day about the media.

The media will hold off and check out everything before reporting this.

If it were an ® beside his name, CNN and the rest would have had it in their first 5 minutes of broadcast.

® means crook

(D) means smart investor

Whitewater

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cookinwithgas    7,375

only if you are a Republican, apparently. If you are a Democrat, you can only make money by taking it from the mouths of starving Republican children.

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jkeough    4

only if you are a Republican, apparently. If you are a Democrat, you can only make money by taking it from the mouths of starving Republican children.

no such thing

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