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The Wall Street Journal
Corporate Insiders Step Up Stock Buying After Banking Turmoil
Corporate insiders raced to buy shares of their own companies after last month’s banking crisis, signaling a vote of confidence in this year’s market rebound. Financial firms represented a significant percentage of the buying activity last month as executives bet their stocks would recover after the rapid collapses of three U.S. banks set off a panic that threatened to destabilize the global financial system. Walt Bettinger, Charles Schwab chief executive officer, for example, bought about $3 million of the brokerage’s stock in mid-March when shares sank amid concerns of deposit flight, and he said the company was on solid footing.
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