Jun 15 2009
Always an Excuse
Durbin cashed out during big stock collapse
WASHINGTON | Asset sales came after meeting with Fed, Treasury chiefs
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.
“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.
…
And the excuse:
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.
The Commentary:
And they get away with it everythime! I heard someone say the other day that when you get elected to Congress you should have to put all investments in a blind trust for the durtion of you stay in Congress—to avoid the temptations of greed that seem to be part of the reason people run for office. Don’t let that bit about wanting what’s best for the country crap get in your head.
I don’t care if you’re a Democrat or Republican or Purple—yes, they all do it and WE COULD stand up and prevent it if we all stood up as ONE! The technology of the day makes it easier than ever before!
