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Posted on 06/15/2009 8:42:14 AM PDT by library user
Link is to Sun Times, but source is Bloomberg; therefore, link only.
http://www.suntimes.com/news/1620776,CST-NWS-durbin13.article
We should demand he be prosecuted for “Insider Trading” a lot like Martha Stewart and if he lies about it he should be sent to prison just like she was!!!
Won't happen. Does anybody really think the Obama mob, including Eric Holder, is going to investigate or prosecute their very own scumbag, Durbin?? They may launch an "investigation" (at Durbin's request!) only for the purpose of quickly "clearing" Durbin of "any wrongdoing". But that's about it.
We now live in a lawless thug-ocracy. All we can do is adjust.
FRegards,
LH
No story here ... The market was pathetic.
“We should demand he be prosecuted for “Insider Trading””
There is NO LAW prohibiting congressmen from trading on news or announcements related to stuff they are working on. I’m serious.
In addition, Mr. Durbin may have had his money in a blind trust run by an investment advisor. Meaning what? It wasn’t his idea to do those trades.
Durbin cashed out after meeting with the federal and treasury chiefs though. It was the day before the news became public.
I also read he sold mutual funds.
Because mutual funds are an amalgamation of stocks, how can there ever be any inside information?
A non-issue which only serves to make conservatives look foolish.
ML/NJ
Well, a mutual fund is about as close as one can get to a blind trust - without it being a blind trust. That’s because you never really know what the manager of the fund owns. Most funds report their holdings for the end of the previous quarter. For example, the end of the last quarter was 03/31/2009. A lot has changed in the markets since then.
There you go.
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