Dick Durbin, the Senate’s No. 2 Democrat, reportedly sold more than $115,000 worth of stocks and mutual-fund shares on Sept. 19 and used much of the money to invest in Warren Buffett’s Berkshire Hathaway Inc. The twist, according to Bloomberg, is that he did so “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.”
Durbin’s spokesman told Bloomberg that Durbin did not engage in any “insider trading” based on what he learned from Paulson and Bernanke at the Sept. 18 meeting, and that the information Paulson gave lawmakers wasn’t secret and was disclosed publicly the next day.
