Living and breathing in the Second City
Since Dick Durbin is so keen on telling oil companies how much they should take in profits, I thought it only fitting to look into his own finances and see whether or not Durbin himself is reaping the benefits of the “windfall.” Check out Dick Durbin’s most recent personal finance disclosure report available on OpenSecrets.org.
In 2006, Durbin reported owning 984 shares, valued at $22,359 at the time, of the AllianceBernstein International Value Fund. The number 2 holding in this fund is none other than the Royal Dutch Shell Group. Hmmm. Oh, and then there’s $15,532 worth Fidelity Leveraged Company Stock fund, which is invested partly in El Paso Corporation, another oil company. This fund has performed pretty well. He bought it at around $28 a share and it’s now valued at nearly $35 a share. Not quite a windfall, but not bad. Finally, there’s the Royal Value Service Fun, which invests in Oil States International, Inc.
It is possible Durbin no longer owns these funds because I haven’t found reports for 2007 yet. And he’s not making a fortune off oil … but it’s the principle of the thing.
The fog comes
on little cat feet.
It sits looking
over harbor and city
on silent haunches
and then moves on.
-Carl Sandburg
Stix Blog
June 11th, 2008 at 9:09 pm
Obama owns oil stocks…
Just a little bit of hypocrisy here. No wonder Obama wants oil to be expensive, he owns stock in some oils companies and Trust Funds with oils companies. H/T to A Chicago Blog…. In 2006, Durbin reported owning 984 shares,…