Maybe Eric Cantor needs America to fail.

leftysergeant

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leftysergeant
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Seems the little drongo might actually make money if the debtr cieling is not raised and the government goes into default.

http://www.salon.com/news/politics/war_room/2011/06/27/eric_cantor_conflict_of_interest

I don't fully understand how this sort of financial wheeling-and-dealing works, but it seems to me that if he is still vested in this affair, he should do jail time if he sabotages the process.

Insider trading is a felony.
 
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leftysergeant said:
I don't fully understand how this sort of financial wheeling-and-dealing works, but it seems to me that if he is still vested in this affair, he should do jail time if he sabotages the process.

Insider trading is a felony.
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I quick google search reveals that the insider trading laws most likely don't apply to members of congress. Insiders really only refers to company insider.
 
leftysergeant said:
Seems the little drongo might actually make money if the debtr cieling is not raised and the government goes into default.

http://www.salon.com/news/politics/war_room/2011/06/27/eric_cantor_conflict_of_interest

I don't fully understand how this sort of financial wheeling-and-dealing works, but it seems to me that if he is still vested in this affair, he should do jail time if he sabotages the process.

Insider trading is a felony.
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That is one of many stock holdings he listed some of which were larger. While maybe he would make money on that one. What do you think would happen to his traditional stock holdings in a default? The "little drongo" as you like to affectionatley call him would probably lose lots of money.
 
BobTheCoward said:
That suggests there is a problem. I dont see one.
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Really? Come on now.

I don't think this is a huge deal, but it's definitely a conflict of interest. Politicians, especially members of Congress and the President, should have their investments placed in a blind trust.

If Pelosi was the one investing in a short of treasury bonds, it would be equally improper.

ETA: and additionally, recall that he is from the group of people that have fainting spells when Obama doesn't wear an American flag pin on his lapel. He is the embodiment of the political party that elevates hollow, meaningless gestures above substantive discussion. Betting against the economic success of the American government, which is what he's doing--just not with a ton of money, would be the sort of thing Fox news would meltdown over if this were Barney Frank's portfolio.
 
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TraneWreck said:
Really? Come on now.

I don't think this is a huge deal, but it's definitely a conflict of interest. Politicians, especially members of Congress and the President, should have their investments placed in a blind trust.

If Pelosi was the one investing in a short of treasury bonds, it would be equally improper.

ETA: and additionally, recall that he is from the group of people that have fainting spells when Obama doesn't wear an American flag pin on his lapel. He is the embodiment of the political party that elevates hollow, meaningless gestures above substantive discussion. Betting against the economic success of the American government, which is what he's doing--just not with a ton of money, would be the sort of thing Fox news would meltdown over if this were Barney Frank's portfolio.
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The only thing is he has many more traditional holdings so it is likely he would lose money in the scenario Lefty is saying.

This is probably more of a hedge against interest rates going up than a bet that treasuries in general would go bad.

ETA: I agree if Nancy Pelosi had this investment there would be howls from commentators on the right.
 
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eeyore1954 said:
The only thing is he has many more traditional holdings so it is likely he would lose money in the scenario Lefty is saying.

This is probably more of a hedge against interest rates going up than a bet that treasuries in general would go bad.
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He stands to lose a lot less than does the average American if we go into default.

Why a working person would think that this drongo has anybody else's best interests at heart is beyond me.

I think I can safely say that his dealings in this matter are unethical at best.
 
leftysergeant said:
He stands to lose a lot less than does the average American if we go into default.

Why a working person would think that this drongo has anybody else's best interests at heart is beyond me.

I think I can safely say that his dealings in this matter are unethical at best.
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I think he stands to lose a lot more financially than the average American if we go into default. So does Eric Cantor need America to fail?
 
You make an assumption with Eric Cantor, that, is his first loyalty to the United States?

The GOP or Benevolent Big Brothers Cult is about making people poor and angry.

Then they exploit the anger.

Power is better than money.
 
eeyore1954 said:
I think he stands to lose a lot more financially than the average American if we go into default. So does Eric Cantor need America to fail?
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Well, he isn't much sharper than a bowling ball, so it may be that he thinks he can come out ahead.
 
leftysergeant said:
Well, he isn't much sharper than a bowling ball, so it may be that he thinks he can come out ahead.
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This is from wikipedia.
He earned a Juris Doctor degree from William & Mary Law School in 1988, and received a Master of Science degree from Columbia University in 1989.

Any one who looks at the facts will realize the premise of this thread is incorrect.
 
eeyore1954 said:
This is from wikipedia.
He earned a Juris Doctor degree from William & Mary Law School in 1988, and received a Master of Science degree from Columbia University in 1989.
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Which does not exclude the possibility that he is a superstitious twit and a bit short of a real man. Remember the paranoid hissy fit he had when a stray bullet broke a window in the building where his office was?

He's batcrap crazy, at the very best.
 
eeyore1954 said:
This is from wikipedia.
He earned a Juris Doctor degree from William & Mary Law School in 1988, and received a Master of Science degree from Columbia University in 1989.

Any one who looks at the facts will realize the premise of this thread is incorrect.
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So Eric Cantor is an intelligent man who argues strenuously to the advantage of his client, The DEVIL himself?
 
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leftysergeant said:
Seems the little drongo might actually make money if the debtr cieling is not raised and the government goes into default.

http://www.salon.com/news/politics/war_room/2011/06/27/eric_cantor_conflict_of_interest

I don't fully understand how this sort of financial wheeling-and-dealing works, but it seems to me that if he is still vested in this affair, he should do jail time if he sabotages the process.

Insider trading is a felony.
Click to expand...
BREAKING: Member of Congress has financial holdings!

Film at 11!
 
Lefty, if parky were here, he might call you an anti semite for criticizing Eric Cantor.

I won't.

I think you don't like him because he's from South of the Mason Dixon Line.

Fun facts from Rep Cantor's bio. (No, I cannot refer to him as the distinguished gentleman from Virginia, as I'd end up throwing up in my mouth).
His father was the state treasurer for Ronald Reagan's 1980 presidential campaign.
Cantor was raised in Conservative Judaism.
He graduated from the Collegiate School in 1981.
Received his Bachelor of Arts in 1985 George Washington University.
He earned a Juris Doctor degree from William & Mary Law School in 1988
Received a Master of Science degree from Columbia University in 1989.
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Whoa, he went to Pres Obama's alma mater! Maybe your antipathy for him comes from his being a career student? Him being better educated than you?

Why do you hate education, lefty?

Yes, I know he's a pol, and worthy of scorn on that basis alone, but what's with this drongo deal.

Sour grapes?
 
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