Comments on: Senator Durbin Used Information Gleaned from Meeting with Fed to Protect (Ass)ets http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/ General interest observations and true web-log. Sat, 21 Nov 2009 19:46:48 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Mr. Fusion http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539893 Mr. Fusion Wed, 17 Jun 2009 15:04:11 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539893 #31, Sweeny, <i>Like Dodd and Obama getting financial aid from crooks to help buy their houses.</i> Maybe you could enlighten us as to which "crooks" Dodd and Obama got financing from to buy their houses? Oh, that's right they didn't and you are just trolling. Again. Very tactful. #31, Sweeny,

Like Dodd and Obama getting financial aid from crooks to help buy their houses.

Maybe you could enlighten us as to which “crooks” Dodd and Obama got financing from to buy their houses?

Oh, that’s right they didn’t and you are just trolling. Again. Very tactful.

]]> By: Gary, the dangerous infidel http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539766 Gary, the dangerous infidel Wed, 17 Jun 2009 07:32:40 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539766 #29 Dianna, that's a perceptive comment. I didn't think much about the motivation for this attack, but I remember Durbin's comments about the banks that you've noted. With banking regulatory reform on the horizon, and an unfriendly senator making noise, it certainly makes sense. All of the funds Durbin sold have actually outperformed the Berkshire-B stock that he replaced them with, but that may not be enough to stop a good smear campaign. #29 Dianna, that’s a perceptive comment. I didn’t think much about the motivation for this attack, but I remember Durbin’s comments about the banks that you’ve noted. With banking regulatory reform on the horizon, and an unfriendly senator making noise, it certainly makes sense.

All of the funds Durbin sold have actually outperformed the Berkshire-B stock that he replaced them with, but that may not be enough to stop a good smear campaign.

]]> By: RSweeney http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539661 RSweeney Tue, 16 Jun 2009 23:09:21 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539661 Outside of Congress, this is called insider trading and is a crime. Inside of Congress, and especially in Illinois, it's just accepted corruption as usual. Like Dodd and Obama getting financial aid from crooks to help buy their houses. Like special jobs opening up to pay politician family members hundreds of thousands. Jobs that appear only for "special" people... like Blago wanted for his wife in exchange for a Senate seat, like Michelle Obama got once her husband became a Senator (and the job disappeared when she left it). Just the normal perks of power. Outside of Congress, this is called insider trading and is a crime.

Inside of Congress, and especially in Illinois, it’s just accepted corruption as usual.

Like Dodd and Obama getting financial aid from crooks to help buy their houses. Like special jobs opening up to pay politician family members hundreds of thousands. Jobs that appear only for “special” people… like Blago wanted for his wife in exchange for a Senate seat, like Michelle Obama got once her husband became a Senator (and the job disappeared when she left it).

Just the normal perks of power.

]]> By: deowll http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539615 deowll Tue, 16 Jun 2009 21:01:17 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539615 I'd say it shows he's a poor money manager. He'd been money ahead if he had just gotten out the market and put his money in a checking account that doesn't even pay interest. I’d say it shows he’s a poor money manager. He’d been money ahead if he had just gotten out the market and put his money in a checking account that doesn’t even pay interest.

]]> By: Dianna http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539598 Dianna Tue, 16 Jun 2009 20:18:57 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539598 Durbin's one of the good guys. For example, a couple of weeks ago, he made a public statement saying the Congress had been captured by the banks (financial industry). I was glad to hear a Senator have the courage to publicly state this and I wondered how the banks would retaliate. To me, it looks like the banks may be stoking up the spin machine to go after him. He is well-respected in his state for many decades of good service to the state of Illinois. As I said, he is one of the good guys. I doubt this story will hold water. Durbin’s one of the good guys.

For example, a couple of weeks ago, he made a public statement saying the Congress had been captured by the banks (financial industry). I was glad to hear a Senator have the courage to publicly state this and I wondered how the banks would retaliate.

To me, it looks like the banks may be stoking up the spin machine to go after him.

He is well-respected in his state for many decades of good service to the state of Illinois. As I said, he is one of the good guys. I doubt this story will hold water.

]]> By: meathead523 http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539595 meathead523 Tue, 16 Jun 2009 20:15:45 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539595 Surprise, Surprise, He is from Illinois.Must have learned from the best. Surprise, Surprise, He is from Illinois.Must have learned from the best.

]]> By: Wretched Gnu http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539392 Wretched Gnu Tue, 16 Jun 2009 08:18:28 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539392 I don't get it. Inside trading is when you act on information about a specific company. How the hell can dumping a bunch of *mutual funds* -- because it's clear to you that the market is screwed -- be considered abusing privileged information? I don’t get it. Inside trading is when you act on information about a specific company.

How the hell can dumping a bunch of *mutual funds* — because it’s clear to you that the market is screwed — be considered abusing privileged information?

]]> By: Great American http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539351 Great American Tue, 16 Jun 2009 04:04:22 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539351 If I'm not mistaken, Birkshire-Hathaway went down in value significantly. So did he buy high to keep low? :) If I’m not mistaken, Birkshire-Hathaway went down in value significantly. So did he buy high to keep low? :)

]]> By: Mr. Fusion, http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539334 Mr. Fusion, Tue, 16 Jun 2009 03:38:31 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539334 #24, Cap'n, It depends upon if your dog was trained to help you navigate. ;) #24, Cap’n,

It depends upon if your dog was trained to help you navigate.

;)

]]> By: Cap'nKangaroo http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539326 Cap'nKangaroo Tue, 16 Jun 2009 02:54:20 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539326 Is it a blind trust when you put bundles of money in your freezer? I'm just asking? Is it a blind trust when you put bundles of money in your freezer? I’m just asking?

]]> By: Patrick http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539247 Patrick Mon, 15 Jun 2009 21:23:43 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539247 # 20 Cursor_ said, "Again another example that there is absolutely no difference between the two parties besides one has stripe and one has spots." Yep, you got that right. # 20 Cursor_ said, “Again another example that there is absolutely no difference between the two parties besides one has stripe and one has spots.”

Yep, you got that right.

]]> By: MikeN http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539236 MikeN Mon, 15 Jun 2009 20:36:44 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539236 If they couldn't get Hillary for commodities trading, making 100,000 on a $1,000 investment, I don't think they'll find anything here. If they couldn’t get Hillary for commodities trading, making 100,000 on a $1,000 investment, I don’t think they’ll find anything here.

]]> By: Mr. Fusion http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539233 Mr. Fusion Mon, 15 Jun 2009 20:30:40 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539233 If he used insider information then he should be prosecuted. If he, as millions of others last fall, sold some stock on the news that the world was going to hell, then so what. As I recall, members of Congress put their investment folios into blind trusts. That way they can't be accused of using insider information. Of course the trusts aren't as blind in some, like Ted Stevens and "Duke" Cunningham's cases but what the hell. If he used insider information then he should be prosecuted. If he, as millions of others last fall, sold some stock on the news that the world was going to hell, then so what.

As I recall, members of Congress put their investment folios into blind trusts. That way they can’t be accused of using insider information. Of course the trusts aren’t as blind in some, like Ted Stevens and “Duke” Cunningham’s cases but what the hell.

]]> By: Cursor_ http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539221 Cursor_ Mon, 15 Jun 2009 19:47:04 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539221 Again another example that there is absolutely no difference between the two parties besides one has stripe and one has spots. These are PLUTOCRATS people! Do we honestly expect anything more? Are you all that naive? The system is broken. To fix it we need to start over. NONE of these people can be trusted. Cursor_ Again another example that there is absolutely no difference between the two parties besides one has stripe and one has spots.

These are PLUTOCRATS people!

Do we honestly expect anything more?

Are you all that naive?

The system is broken. To fix it we need to start over. NONE of these people can be trusted.

Cursor_

]]> By: Gary, the dangerous infidel http://www.dvorak.org/blog/2009/06/15/senator-durbin-used-information-gleaned-from-meeting-with-fed-to-protect-assets/comment-page-1/#comment-1539202 Gary, the dangerous infidel Mon, 15 Jun 2009 19:03:38 +0000 http://www.dvorak.org/blog/?p=50907#comment-1539202 This is the first time I can recall that poorly-timed investments are being used to implicate someone of acting on inside information. Is this part of that post-9/11 mentality that I could never understand? Cripes, and then some... This is the first time I can recall that poorly-timed investments are being used to implicate someone of acting on inside information. Is this part of that post-9/11 mentality that I could never understand?

Cripes, and then some…

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