Durbin Sold Stocks After Closed Door Meeting
by Big Dog on Jun 15, 2009 at 23:24 Political
Last year when the economy was beginning to tank the Treasury Secretary and Fed Chairman had a closed door meeting which was attended by Dick Durbin. The next day he sold off tens of thousands of dollars worth of mutual funds and by mid October had sold over $110k worth of stock and invested it in Warren Buffet’s Berkshire Hathaway Stock.
Did Durbin get insider information that led him to sell the stock? A spokesperson says no but appearance is often reality and it sure looks like he acted on inside info.
Of course, will never know all of what was disclosed in the meeting but something prompted Durbin to sell.
Source:
Chicago Sun Times
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BIGD: “he sold off tens of thousands of dollars worth of mutual funds and… invested it in Warren Buffet’s Berkshire Hathaway Stock.>>
DAR
1) Correlation doesn’t show causation.
2) He took a bath like everyone else. BERKSHIRE stock was about 140k in early October, 120k by mid-October and went below 80k in mid Nov. Now it’s about 90k.
D.
How would it look to you if that was Mitt Romney who did what Durbin did? Would you then be saying it was inside trading?
Correlation might not prove causation, but in politics, very often perception is reality. Something to keep in mind.
I wouldn’t say it was insider trading unless there was evidence showing that he had received “inside” information.
When you make the charge of insider trading, that’s the lynch pin you gotta have, or you got nothing.
D.
I did not say it was insider trading.
Send him to Camp Cupcake.
A Democrat, from Chicago, acting crooked? Say it ain’t so!
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Darrel, once again you assume facts not in evidence. You do this a lot. You argue by changing things and assuming an air of superiority when you are just lying.
No one said that Correlation shows causation. I said that appearance is often reality and that since he sold his stocks it appears he heard soemthing at that meeting.
He figured Buffet’s stuff would be safe and invested in it. The “bath” came later.
Amazingly, guys like you and Adam see corruption if a Republican farts but when Dems are involved in shady things you never point it out or take a stance against it. You ignore it.
Where were you when Jefferson was taking bribe money? WHere were you when Rangel and Geithner were exposed as tax cheats? Both of you silent.
A liar named Joe Wilson writes lies in a paper and you all immediately say Bush did it all because Wilson said so. Durbin, an Illinois thug and IDIOT (hope you read this Dick) did something questionable and you ignore it.
They are supposed to be above reproach. You do not hold your guys to that standard.
You are no longer allowed to say things about any Republican who is accused of wrong doing. You will apply the same standard.
BIGD: “once again you assume facts not in evidence.>>
DAR
I don’t have to assume anything. All I have to do is point out that you have no facts supporting your assumption that there is causation between him attending a meeting, and selling some stock.
Bigd: No one said that Correlation shows causation.>>
DAR
Then there is no point to your post. Your whole post is based upon there being some causation inferred from this correlation.
You made a hamburger but you forgot to bring a patty. Where’s the beef?
BigD: “Durbin, an [insult] did something questionable…>>
DAR
Everything is “questionable.” You have to do a little better than that! This is embarrassing.
D.
———————
ps. I hold everyone to the same standard. You dribble out some supposed accusations of this and that but again you put no beef in the burger. Put some and I’ll roast it. Easy.
You are assuming things not in question. Appearance is reality and he gave the appearance of doing something underhanded.
I don’t know where the insult is.
When I quoted you I edited out the distracting childish insults a bit: “Durbin, an [insult] did something questionable…”
Bigd: “I don’t know where the insult is.”
Really? Try this:
“Durbin, an Illinois thug and IDIOT (hope you read this Dick) did something questionable and you ignore it.”
D.
Darrel, if it is true, it is not an insult.
Perception is reality here.
Adam, Camp Cupcake? That is where Barney Fwank and the west of the lispers go with their queer lovers.
From the post:
…and by mid October had sold over $110k worth of stock and invested it in Warren Buffet’s Berkshire Hathaway Stock.
Darrel wrote:
2) He took a bath like everyone else. BERKSHIRE stock was about 140k in early October, 120k by mid-October and went below 80k in mid Nov. Now it’s about 90k.
He bought it in Mid October LIKE I SAID when the price was high. He obviously thought it would stay there.
You use flawed logic by indicating that because he “took a bath” he did nothing wrong as if he meant to do it. If taking a bath were his goal he could have left the money where it was. He obviously sold it to avoid a loss and invested it where he thought it was safe. Turned out not to be a good move.
However, the fact that he lost money does not mean he did nothing wrong. One has nothing to do with the other.
BigD: “You use flawed logic by indicating that because he “took a bath” he did nothing wrong as if he meant to do it.>>
DAR
You fail to remember that it is you making the assertion of wrongdoing, and thus have an onus of providing evidence for your assertion. You got nothing. No, thing. Where’s the logic in that? There isn’t any.
You haven’t provided a single drop of evidence showing that his attendance at that meeting had anything whatsoever to do with any sale of any stock.
This is all circumstantial assertion and a product of your bottom!
D.
I made no such claim. I pointed out that the appearance is of impropriety and it certainly is.
Darrel, you and I both know that if this had been a conservative, you would be shouting accusations from the rooftops- don’t even pretend otherwise, so do not go all “holier than thou” on us- that attitude doesn’t suit an atheist.
No I wouldn’t. Not even close. No way.
It’s not even worth mentioning. These guys attend meetings all the time. Trying to correlate attendance of a meeting, and selling stock (at this time?!), is ridiculous. *Lots* of people were selling their stocks and moving them around right then. By mid-October the DOW had just dropped 2,400 points in ten days.
Oct 1 = 10.8k
Oct 10 = 8.4k
I wonder if that might have had something to do with him selling stocks and buying the historically dependable Berkshire?
Let me give you a debate tip. Don’t defend the indefensible and don’t make assertions you can’t support. This accusation, a thin and baseless correlation, is not something I would ever mention, never mind shout “from the rooftops.”
D.