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I see the same thing that the author notes for Wachovia. I can't confirm for all banks.
Apr 19 17:54 pm
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All Comments by Chris Ng »Insider Trends in the Financial Sector [View article]
In the past few months, several Director have purchased millions. This includes one 19 million purchase. The CEO purchased 3.9 million.
These seem like more than token purchases to me.
This can be easily confirmed in MSN money - insider purchases.
Chris
Correct me if I'm mistaken.