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U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
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SumOfAllFears Offline
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U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
U.S. Senator Durbin representing Illinois seems to be above the law.

Compared America’s treatment of Guantanamo Bay prisoners to the manner in which prisoners were treated by the Nazis, the Soviet gulags, and Pol Pot’s Khmer Rouge

Staunch supporter of gun control, abortion rights, and organized labor


The Washington Times reports that on September 18 of last year, Senator Richard Durbin of Illinois participated in a closed-door meeting with then-Treasury Secretary Henry Paulson Jr. and Federal Reserve Chairman Ben Bernanke, who briefed Durbin and other congressional leaders on the gravity of the financial crisis. The next day, Durbin sold off $42,696 in mutual-fund shares, and subsequently sold off another $73,000 during the remainder of that month. Then the stock market collapsed. By October 3, the Dow Jones Industrial Average had plunged by 9 percent; by October 17, it was down over 22 percent. In 2002 Durbin, who has been one of the Senate’s most outspoken critics of the alleged greed of Wall Street bankers, complained that corporate executives guilty of insider trading did not face sufficiently severe criminal penalties. "I think it is odd,” he said, “that a shoplifting actress in Hollywood [Winona Ryder] is facing more time in jail than any officer in Enron."

Born in November 1944 in East St. Louis, Richard Durbin was raised in southern Illinois by parents who were active trade unionists. After earning his undergraduate degree (in Foreign Services and Economics) at Georgetown University in 1966, he attended Georgetown Law School and received his Juris Doctorate in 1969. Durbin worked as Legal Counsel for the Illinois Lieutenant Governor from 1969-73, and for the Illinois Senate Judiciary Committee from 1972-82, before serving in the U.S. House of Representatives from 1983-96. He has been a Democratic U.S. Senator representing Illinois since 1996.

As a freshman member of the Senate Government Reform Committee in 1997, Durbin skillfully helped deflect the well-substantiated allegations that the Bill Clinton White House and the Democratic National Committee had received campaign contributions from Communist China to influence the 1996 elections. In 1998-99, Durbin was one of Mr. Clinton’s most ardent and effective defenders during the President’s impeachment proceedings.

In the aftermath of the Clinton administration, Durbin consistently provided vocal opposition to the presidency of George W. Bush. In 2004, the Senate Intelligence Committee issued a report blasting the CIA for its inaccurate pre-war judgments about Iraqi weapons of mass destruction, and absolving the Bush White House of any blame for the intelligence failures. Nevertheless, Durbin wrote a column in The Washington Post claiming that senior Bush administration officials “should have been more diligent in challenging the validity of analytical assumptions and the adequacy of intelligence collection and reporting.”

Durbin's voting record on immigration issues is worthy of note; on most occasions, he has voted against bills designed to strengthen the integrity of America’s borders and to maintain firm control over the influx of foreign-born immigrants. For example:

In 1996 Durbin voted against mandatory workplace-verification programs.
In 1997 he voted in favor of amnesty for nearly a million illegal aliens from Nicaragua and Cuba.
In 1998 he led an effort to grant amnesty to 50,000 illegal aliens from Haiti, plus their families.
In 2000 he voted in favor of amnesty for illegal aliens from El Salvador, Guatemala, Honduras, and Haiti.
In 2002 he supported a bill to grant amnesty and in-state college-tuition benefits to illegal aliens; in 2003-2004 he co-sponsored another bill that contained similar provisions.
In 2003, 2004, and 2005 he co-sponsored bills creating amnesty for illegal agricultural workers.
In 2005 he voted against an amendment to provide funding for additional border-patrol agents.
In 2006 he voted in favor of an Immigration Reform Bill that would have created a path to citizenship for all illegal aliens who had resided in the U.S. for at least five years.
Twice in 2006, and again in 2008, he voted against bills to finance the construction of several hundred miles of fencing along the U.S.-Mexico border.
In 2007 he voted in favor of a proposal to end the use of a point-based immigration system, (i.e., a system that seeks to ensure that people with skills that society needs are given preference for entry into the United States).
Also in 2007, he voted in favor of a bill to fund the REAL ID Act of 2005, which proposed to set minimal security requirements for state driver licenses and identification cards.
During his years in the Senate, Durbin has supported the use of military force by Democratic presidents but opposed it during Republican administrations. For example, on January 12, 1991 (during the George H.W. Bush presidency), Durbin voted against authorizing the invasion of Iraq pursuant to U.N. Security Council Resolution 678, in the wake of Saddam Hussein’s invasion of Kuwait. A few years later, however, the senator voted repeatedly to support President Clinton's military ventures in the Balkans and Iraq. But in October 2002 (when Republican George W. Bush occupied the Oval Office), Durbin voted against the joint resolution authorizing the use of military force against Iraq.

Although Durbin voted in favor of the Patriot Act in October 2001, he has repeatedly criticized it for what he perceives to be its excesses. In 2005 he introduced legislation, the “SAFE Act,” proposing to repeal several key elements of the anti-terrorism measure.

For an overview of additional key votes that Durbin has cast during his legislative career, see below.

In 2004 Durbin took advantage of the Abu Ghraib prisoner-abuse scandal to capitalize politically, introducing legislation to reaffirm the U.S. ban on torture and grilling White House counsel Alberto Gonzales on the issue during the latter's confirmation hearings to be Attorney General.

Durbin also joined with several of his Democrat colleagues in calling for the closure of the detention center at Guantanamo Bay, where al Qaeda and Taliban terrorists and enemy combatants were being held. On June 14, 2005, Durbin went to the Senate floor and likened American techniques of interrogating the Guantanamo detainees to methods used by Nazi Germany, the Soviet Union, and the Khmer Rouge. Specifically, after reading an account which claimed that detainees were being held in rooms that were either too cold or too hot, and where loud rap music was being played, Durbin said:

“If I read this to you and did not tell you that it was an FBI agent describing what Americans had done to prisoners in their control, you would most certainly believe this must have been done by Nazis, Soviets in their gulags, or some mad regime -- Pol Pot or others -- that had no concern for human beings. Sadly, that is not the case. This was the action of Americans in the treatment of their prisoners.”

Durbin's remarks were subsequently exploited for propaganda purposes by anti-American organizations like Al-Jazeera and others. Nevertheless, Durbin initially refused to express remorse for his comments. Eventually, however, he issued a tearful apology on the Senate floor.

Senator Richard Durbin's Voting Record
By http://www.discoverthenetworks.org/indiv...indid=2037
June 2009


During the course of his legislative career, Senator Richard Durbin has voted:


in favor of a 2003 bill to ban oil exploration in the Arctic National Wildlife Refuge;
against major tax-cut proposals in 1999, 2000, 2000 (again), 2001, 2003, 2005, and 2006;
in favor of a 2008 bill imposing a 25 percent tax on the “windfall profits” of major oil companies;
against a 2006 proposal to create military commissions to try unlawful enemy combatants for war crimes they had committed against the U.S.;
in favor of separate proposals (in 2006 and 2007) to impose an arbitrary timetable for the withdrawal of U.S. troops from Iraq;
in favor of a 2008 amendment removing telecommunications companies’ immunity from the FISA Amendments Act of 2008;
in favor of affirmative-action policies awarding preferential treatment to business enterprises owned by nonwhite minorities and women;
against separate proposals (in 2004 and 2005) to ban lawsuits against gun manufacturers, distributors, dealers, and importers for damages resulting from the misuse of their products by others;
against separate bills (in 1997, 1998, 1999, and 2003) designed to ban the late-term procedure commonly known as “partial-birth abortion”; and
against a 2004 proposal to make it an added criminal offense for someone to injure or kill a fetus while carrying out a crime against a pregnant woman.
(This post was last modified: 06-23-2009 02:09 PM by SumOfAllFears.)
06-23-2009 11:01 AM
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DrTorch Offline
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Post: #2
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
So is he under indictment?

Hell, Martha Stewart got heat and jail time over much less than this.
06-23-2009 11:28 AM
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Tripster Offline
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Post: #3
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
.

Well that's another piece of trash down and out of the way.

Heck man ..... the way these Lib's are going to prison, we won't need an Election in 2010 ..... 03-lmfao 03-lmfao 03-lmfao 03-lmfao 03-lmfao

.
06-23-2009 11:48 AM
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NIU05 Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
It is embarrassing to have had Durbin, Obama and Burris as my senators from IL. Durbins treacherous remarks about our soldiers in a time of war where disgusting. In a better days he would have been expelled from office and suffered the just punishment of a traitor. Why did he do it?..... to weaken an elected President ... and to win some cheap political points...... DISGUSTING!
06-23-2009 12:06 PM
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Rebel
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Post: #5
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
Do you have a link, SOAF?
06-23-2009 12:08 PM
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Lord Stanley Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
Is there any more publically politically corrupt state than Illinois? It's like Tammany Hall on the Plains.
06-23-2009 12:16 PM
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SumOfAllFears Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(This post was last modified: 06-23-2009 02:18 PM by SumOfAllFears.)
06-23-2009 02:09 PM
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jh Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
Neither article says that he has been indicted. I wonder if this is this actually considered insider trading, at least in the legal sense? I've always thought of insider trading as involving more specific information about a particular company, rather than a general knowledge that the economy was going in the tank. Of course, I guess the briefing could have been specific enough for at least some of his trades to qualify.

I'm not defending Durbin. Assuming the basic facts of the articles are true, it seems clear that his actions violate at least the spirit of the insider trading laws. I'm just wondering if they violate the actual letter as well.
06-23-2009 08:15 PM
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Fo Shizzle Offline
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Post: #9
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
Another ILL. scumbag politician. WOW...Who would have thunk it?03-lmfao
06-23-2009 08:38 PM
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Post: #10
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-23-2009 08:15 PM)jh Wrote:  Neither article says that he has been indicted. I wonder if this is this actually considered insider trading, at least in the legal sense?

You've got to be kidding me. Are your partisan glasses that thick? Had this been Bush, Cheney, Rove, or any other conservative, people on the left would be screaming bloody murder. ....but when a Dem does this? {crickets}
06-24-2009 07:22 AM
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Artifice Offline
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Post: #11
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-23-2009 08:15 PM)jh Wrote:  Neither article says that he has been indicted. I wonder if this is this actually considered insider trading, at least in the legal sense? I've always thought of insider trading as involving more specific information about a particular company, rather than a general knowledge that the economy was going in the tank. Of course, I guess the briefing could have been specific enough for at least some of his trades to qualify.

I'm not defending Durbin. Assuming the basic facts of the articles are true, it seems clear that his actions violate at least the spirit of the insider trading laws. I'm just wondering if they violate the actual letter as well.

You're correct. It is not insider training. It's slimey, but not criminally actionable. But, as usual, SOAF exaggerates.
06-24-2009 07:43 AM
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Tripster Offline
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Post: #12
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-24-2009 07:43 AM)Artifice Wrote:  You're correct. It is not insider training. It's slimey, but not criminally actionable. But, as usual, SOAF exaggerates.

Oh yeah !!!!!

But if this were a Conservative that has never Slandered the United States Military, toss his worthless ass in GITMO post haste !!!!

With MUCH Water Boarding Allowed on this one !!!!!

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06-24-2009 08:49 AM
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DrTorch Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-24-2009 07:43 AM)Artifice Wrote:  
(06-23-2009 08:15 PM)jh Wrote:  Neither article says that he has been indicted. I wonder if this is this actually considered insider trading, at least in the legal sense? I've always thought of insider trading as involving more specific information about a particular company, rather than a general knowledge that the economy was going in the tank. Of course, I guess the briefing could have been specific enough for at least some of his trades to qualify.

I'm not defending Durbin. Assuming the basic facts of the articles are true, it seems clear that his actions violate at least the spirit of the insider trading laws. I'm just wondering if they violate the actual letter as well.

You're correct. It is not insider training. It's slimey, but not criminally actionable.

I'm not convinced of that. If you become aware of insider information that will affect several companies, it's still is still insider trading if you act on it.

For example, if you learn of Federal Hwy plans prior to public release, and go invest in a REIT that owns surrounding land (now obviously prime for development) I'm pretty certain that's criminally actionable. Even though that REIT wasn't mentioned, nor are they directly involved in the hwy construction. You still had inside information.

I'm obviously not an attorney, but I'm pretty sure jh's limited definition is not appropriate.
06-24-2009 09:22 AM
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RC Horn Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
True irony indeed if the charges are true. I would love for a smirking,condescending Leftie like Dick Durbin to get sent away for awhile. Unfortunately, nothing is going to happen. Remember that the Democrats are here to protect you from all those evil conservatives and Republicans and hence, they can violate the law in order to protect you.
06-24-2009 10:53 AM
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SumOfAllFears Offline
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Post: #15
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
This is without a doubt securities fraud -- which carried a maximum penalty of 10 years in prison and a $1 million fine. Additionally if Durbin is found guilty on counts of obstructing justice and lying to investigators about his well-timed stock sale it could be five years in prison and $250,000 in fines for each count.

Democrats are in full protect mode, just like with Pelosi, Reid, Obama, all the tax cheats, and con and scam gamers.
(This post was last modified: 06-24-2009 11:30 AM by SumOfAllFears.)
06-24-2009 11:28 AM
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-23-2009 12:06 PM)NIU05 Wrote:  It is embarrassing to have had Durbin, Obama and Burris as my senators from IL. Durbins treacherous remarks about our soldiers in a time of war where disgusting. In a better days he would have been expelled from office and suffered the just punishment of a traitor. Why did he do it?..... to weaken an elected President ... and to win some cheap political points...... DISGUSTING!

03-lmfao
06-24-2009 12:58 PM
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RobertN Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-24-2009 10:53 AM)RC Horn Wrote:  I would love for a smirking,condescending Rightie like Dick Cheney get sent away for awhile. Unfortunately, nothing is going to happen. Remember that the Republicans are here to protect you from all those evil socialists and Liberals and hence, they can violate the law in order to protect you.
06-24-2009 01:12 PM
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jh Offline
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-24-2009 07:22 AM)Rebel Wrote:  
(06-23-2009 08:15 PM)jh Wrote:  Neither article says that he has been indicted. I wonder if this is this actually considered insider trading, at least in the legal sense?

You've got to be kidding me. Are your partisan glasses that thick? Had this been Bush, Cheney, Rove, or any other conservative, people on the left would be screaming bloody murder. ....but when a Dem does this? {crickets}

I think it's funny that you think my partisan glasses are shaded democratic. I think it's strange that you consider a post asking about the legal definition of insider trading to be partisan.

Like Dr. Torch, I'm not a lawyer. I have no idea exactly what is the legal definition of insider trading. That's why I asked the question.
06-24-2009 07:15 PM
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OUBOBCATJOHN Offline
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Post: #19
RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
If Durbin had access to information that wasn't public and traded on that information then yes it would be insider trading. I think the members of congress and other public officals should be forced to place their investments in a trust while in office. Richardson pay to play, Blogo pay to play, Durbin insider trading, Chris Dobb loans, Murtha financial dealings. Democrats are stuffing money into their pockets so fast before the mid term elections. They are pushing the stimulus and Health Care plans fast so they can get their money up front before the get thrown out. Democrats are getting fat right now while the country suffers.
06-24-2009 11:26 PM
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RE: U.S. Senator Durbin from Illinois committed a Felony of Insider Trading
(06-23-2009 08:38 PM)Fo Shizzle Wrote:  Another ILL. scumbag politician. WOW...Who would have thunk it?03-lmfao

Obama's political play should shock no one
John Kass
June 21, 2009
It's amusing to watch the Washington political establishment feign shock, now that President Barack Obama's reform administration has used a clay foot to vigorously kick one inspector general and boot another out the door.

One inspector general foolishly investigated a friend of the president. Another inspector general audited those juicy bonuses given to AIG executives as part of $700 billion federal bailout of the financial industry.

It's a decent man-bites-dog story, at least until North Korea tries lobbing a few missiles toward Hawaii. But until that happens, the political talk shows will buzz about Neil Barofsky, the inspector general overseeing the financial bailout.

Barofsky now claims that his autonomy will be compromised if the Obama Justice Department rules that he is merely a functionary of the Department of Treasury.

"An adverse ruling ... could potentially have a serious impact on the independence of our agency and our ability to carry out our mandate," Barofsky wrote in a letter to ranking senators on Friday.

Just two weeks ago, inspector general Gerald Walpin, who watches over volunteer community programs, was fired. He investigated Sacramento Mayor Kevin Johnson, an Obama pal and former NBA star. Walpin alleged Johnson misused $850,000 in federal youth grants.

The use of political muscle may be prohibited in the mythic transcendental fairyland where much of the Obama spin originates, sprouting green and lush, like the never-ending fields of primo Hopium.

But our president is from Chicago. Obama's Media Merlin David Axelrod and chief of staff Rahm Emanuel come right from Chicago Democratic machine boss Mayor Richard Daley. They don't believe in fairies.

Daley can't wait to be rid of his own inspector general, David Hoffman, who had the audacity to question why Daley's nephew received $68 million in city pension funds to invest. The mayor insists he didn't know anything about it. Nobody with a functioning brain believes the mayor.

The second that Hoffman's term expires, the mayor will change the locks on his office doors and move Hoffman's house plants out into the cold. Daley might even send some of the same political tough guys who helped elect Emanuel to Congress years ago, all in the name of reform.

It's the Chicago Way. Now, formally, it's also the Chicago on the Potomac Way.

One fellow who seems surprised is Walpin. He was transformed from dogged inspector general to alleged drooling incompetent last week in just a few spin cycles.

"I am now the target of the most powerful man in this country with an army of aides whose major responsibility seems to be to attack me and get rid of me," Walpin was quoted as saying.

In a letter to Congress explaining Walpin's firing, the Obama White House complained that Walpin failed to disclose exculpatory evidence that would have helped the mayor of Sacramento, and exhibited "other troubling and inappropriate conduct."

The letter, by White House counsel Norman Eisen, also left the impression that Walpin, 77, was a doddering old man just shy of dementia, describing him as "confused" and "disoriented" and all but incapacitated. I don't know whether that's true. But I do know this:

Walpin alleged that Obama's ally, supporter and fundraiser, Sacramento Mayor Johnson, played games with the $850,000 in federal money targeted for the AmeriCorps student volunteer program. Johnson allegedly paid "volunteers" to work on Democratic political campaigns, run his personal errands and even wash his car.

In an April deal with prosecutors in the Obama Justice Department, Johnson was not charged with a crime. But his St. HOPE Academy charity agreed to pay back half of the $850,000, including $72,000 from Johnson himself.

During the presidential campaign, the message expertly spun by Daley's mouthpiece, Axelrod, was that Obama would bring hope and change and transform the cynical politics of the past.

The Washington Beltway media pack, exhausted after the cynicism of the Bush years, was eager for change. Many fired up their Hopium pipes and waited, glassy eyed, for the rapture, all but chanting "Yes We Can." Now they're coming down hard.

So here's my question:

What's the big surprise? What strange, exotic land do they think Obama comes from?

Do they think Obama learned his politics in Narnia, while cavorting with gentle forest creatures, some of which have hooves and serve tea and cakes to journalists and well-mannered English schoolgirls on snowy winter afternoons?

Did Obama learn politics in Camelot, the magical kingdom where federal czars sit at a great round table, all for the good of the simple peasants? Or did he learn politics along that famous highway, you know, the one that's always paved with good intentions?

No. Obama learned his politics in Chicago.

And now all of Washington can learn it, too.

http://www.chicagotribune.com/news/colum...440.column
06-24-2009 11:40 PM
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