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.
The article goes onto point out that within days the S&P, along with most of the market, began to tank. Durbin got out just before and got himself back in at the beginning of October. Durbin's spokesperson claims that Durbin was merely acting in a prudent manner. The timing is awfully suspicious however.
If you're keeping score, Durbin now joins Charlie Rangel as a Democrat embroiled in a financial scandal. He also joins John Murtha and Nancy Pelosi as Democratic leaders embroiled in scandal. We'll see if the MSM notices that the party that claimed they would "drain the swamp" of corruption has most of its leadership knee deep in it.