Discussion in 'Current Events' started by wkmac, Jun 15, 2009.
Durbin cashed out during big stock collapse
Senators held stock in bailed-out banks
This is a grey area. Depends somewhat on the income derived from the stock & percentage of their portfolio.
Makes one wonder the if they were so close to the industry what were they doing holding any financial stock ?
Just to play devil's advocate.....
How many banks were bailed out? How many senators do you think keep ALL their assets in ONE bank?
I'm just saying, it's a safe bet some senator is going to find he's got assets in one of the banks getting bailed out.
Except for Durbin, did they sell out when it got tough like the ENRON execs?
I'm not sure if it's anything to worry about yet. LOOKS bad, but I'll bet it isn't rampant.
MANY of us have assets tied up in these banks. Although they should, but many Senators probably don't even know where all their assets is sitting.
I wouldn't even say it looks bad. Go find 10 of your buddies with a decent 401K or brokerage account and I would imagine quite a few would have assets in one of those banks in one way or another.
Separate names with a comma.