Tricky Dick Durbin Cashed Out Big
The Chicago Sun-Times recently reported dumbocrat, Tricky Dick Durbin, cashed out during big stock collapse AFTER meeting with Treasury Secretary and Federal Reserve Chairman:
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.
His spokesperson, Joe Shoemaker claims Tricky Dick was just doing what a lot of others were doing to protect their savings. One big difference Joe, “a lot of other people” did not have the benefit of being briefed by the Treasury Secretary and the Federal Reserve Chairman to decide what stocks to dump!
You too can contact Tricky Dick for investment advice at: http://durbin.senate.gov/contact.cfm
“For those who understand, no explanation is needed. For those who do not understand, no explanation is possible”.
Barack Obama, through his spokesman, claimed that he was unaware of the tax day tea parties. Granted, the MSM has done a good job in suppressing any sort of coverage ahead of time (and the little coverage they did provide was derisive at best) but how out of touch is the Community Organizer in Chief, really?
This much:
- He was unaware that he was attending a church (for 20 years) with a racist pastor who hates America .
- He was unaware that he was family friends with, and started his political career in the living room of, a domestic terrorist.
- He was unaware that he had invested in two speculative companies backed by some of his top donors right after taking office in 2005.
- He was unaware that his own aunt was living in the US illegally.
- He was unaware that his own brother lives on pennies a day in a hut in Kenya .
- He was unaware of the AIG bonuses that he and his administration approved and signed into a bill.
- He was unaware that the man he nominated to be his Secretary of Commerce was under investigation in a bribery scandal.
- He was unaware that the man he nominated to be his Secretary of Health and Human Services was a tax cheat.
- He was unaware that the man he nominated to be his Secretary of the Treasury was a tax cheat.
- He was unaware that the man he nominated to be the U.S. Trade Representative was a tax cheat.
- He was unaware that the woman he nominated to be his Chief Performance Officer was a tax cheat.
- He was unaware that the man he nominated to be #2 at the Environmental Protection Agency was under investigation for mismanaging $25 million in EPA grants.
- He was/is unaware that he is not a Natural Born Citizen.
This must explain why he can’t provide a LFBC.