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You are here News Congress Insider Trading in Congress? Very Suspicious Trading By Senate's No. 2 Democrat, Dick Durbin

Insider Trading in Congress? Very Suspicious Trading By Senate's No. 2 Democrat, Dick Durbin

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The Chicago Sun-Times is reporting that Illinois Senator Dick Durbin's financial disclosure statement shows that:

    ... he sold mutual-fund shares worth $42,696 on Sept. 19, the day after thenTreasury 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...

Guess what happened 4 days later? On September 23, Berkshire Hathaway announced that it was investing $5 billion in Goldman Sachs.

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