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Turns out Eric Cantor is invested in a fund that "aggressively" shorts US gvt. securities. It is not a large investment, only a few thousand dollars. I do not think his investment in that fund influenced him to walk out on discussions of raising the debt ceiling, and probably not on any other economic issues. The amount of money at stake is fairly small. Not exactly insignificant, but minor to be sure. Its the kind of investment that a person might not even be aware of in a large and diversified portfolio. The news to me is again the difference between how this conflict of interest is being treated by the media. The media totally hounded Rep. Weiner out of office supposedly for his irrelevant tweets but actually because he was a balls out firebrand liberal. There was no hint of conflict of interest. The Cantor issue does involve a conflict of interest, small though it is. And the media is letting it slide. Should Cantor be removed from office? Yes, of course. But not because of this pretty much irrelevant conflict of interest. Even I don't think Cantor would blow up the whole country's economy just to make a few thousand dollars profit. Cantor should be removed from office by his constituents because he is nothing more than an errand boy for the wealthy privileged and greedy elite, his policies are wrong. It will be interesting to see if this 'scandal' gets any play in the mainstream media. If only it had involved sex somehow!
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Re: Eric Cantor Ethics Question
The Huffington Post reports:
'House Democrats are circulating a resolution accusing House Majority Leader Eric Cantor (R-Va.) of having a conflict of interest in the debt ceiling debate, a move that could provide an awkward C-SPAN moment for one of the lead Republicans in the budget negotiations.
"The resolution goes after Cantor's investment in ProShares Trust Ultrashort 20+ Year Treasury ETF, a fund that 'takes a short position in long-dated government bonds.'
"The fund is essentially a bet against U.S. government bonds. If the debt ceiling is not raised and the United States defaults on its debts, the value of Cantor's fund would likely increase.
"The Democratic resolution, obtained by The Huffington Post from a Democratic source on the Hill, argues that Cantor 'stands to profit from U.S. treasury default, which thereby raises the appearance of a conflict of interest,' and that he 'may be sabotaging [debt ceiling] negotiations for his own personal gain.' It's not clear how widely the measure was being circulated, with a House Democratic aide saying they hadn't seen the resolution or heard it being discussed.
"'Majority Leader Cantor has compromised the dignity and integrity of the Members of the House by raising the appearance of a conflict of interest in negotiations with the executive branch over raising the debt ceiling,' adds the measure. -
Re: Eric Cantor Ethics Question
Paul Ryan, the Republican whose deficit reduction plan calls for privatizing Medicare & Social Security, was recently caught ordering a $300 bottle of wine at a restaurant. He said a lobbyist was paying for it. Somehow, that is exactly the point, that is the problem in a nutshell: drink $300 wine with people who want you, the public law maker, to screw the public. I guess they will probably get away with screwing up Social Security & Medicare, the voices of 250 million count for nothing compared to the campaign contributions of a 10 or 20 Wall St. crooks who stand to steal hundreds of billions. Oh well.Comment
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Re: Eric Cantor Ethics Question
Eric Cantor seems to be the a. hole holding up the debt ceiling resolution, just another conceited arrogant spoiled brat like bush, probably never did an honest day's work in his life, rich, privileged, and way happy to blow everybody else's boat out of the water if it advances his own precious career. What a pathetic excuse for a human being. Him being in congress, the likes of him being elected, is a superb indicator of the failure of this system. He should be cleaning out toilets. It would teach him the meaning of hard work, teach him some damn humility. Arrogant little turd...Comment
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Re: Eric Cantor Ethics Question
Cantor is manically stabbing Boehner in the back daily while the GOP leader staggers punchdrunk between Tea Bags, McConnell's monkey wrench, Rmoderates, and Obama (who's maybe finally found a punch). The various extreme con factions are ravaging themselves for all to see while the last of the mods are trying to hold on, they've all really cornered themselves this time. Obama has played them masterfully.Comment
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Re: Eric Cantor Ethics Question
And all this manufactured drama, this posing, this positioning for personal advantage, with economic disaster lurking on the edge if the damn debt ceiling isn't raised. My God. My God. I am totally stunned at the blind selfishness. Imagine a bunch of doctors in an operating room acting so childishly with a patient on the table. Obama should declare martial law, dissolve the congress, arrest the supreme ct if it makes a move to interfere, and just do what needs to be done. Ironic Republicans have maneuvered him into the position where the only sane thing he can do is to become the tyrant they have portrayed him as. But he won't do it. What will your life savings be worth with inflation increasing prices by, what, 500%? If you want to create an economic disaster that you can use to defeat Obama in 2012, this is a hell of a disaster. So selfish. My God, I do stand in awe at the ruthless selfish pettiness.Comment
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Re: Eric Cantor Ethics Question
Now that US debt has been officially downgraded I wonder how much money Eric Cantor made off his fund that shorts the country. Real nice when members of Congress can make money steering the country off a cliff. Talk about an inherently unstable situation. Not to mention unethical. Hey but at least he made some money selling out (literally) the country. Real nice. Go tea potty!Comment
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Re: Eric Cantor Ethics Question
Today's big east coast earthquake was centered in Eric Cantor's district. Obviously, the Lord is punishing the stupid people of the district for electing such a evil, destructive man. They better take the warning and dump Cantor as soon as they can.Comment
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Re: Eric Cantor Ethics Question
Is the name of the earthquake called East Coast Bias?Originally posted by Kalalau View PostComment
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Re: Eric Cantor Ethics Question
Think about it...435 congressional districts and the Lord singled out Eric Cantor's! The odds are astronomical that it could have been anything other than the vengeance of the Lord. The voters of his district better repent of their evil, God only knows what comes next!Comment
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