Monday, June 15, 2009

It only smells like insider trading

If you or I did this we would get the Martha Stewart treatment.

Senator Durbin cashed out his investments after closed door hearings revealing how risky the banking industry had become. This seems to fit part of the definition under SEC Rule 10b5-1: "any individual who trades shares based on material non-public information in violation of some duty of trust." But I'm gonna go out on a limb here and say that nobody ever says boo to this POS.

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