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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