Via Salon:
Last year the Wall Street Journal reported that Cantor, the No. 2 Republican in the House, had between $1,000 and $15,000 invested in ProShares Trust Ultrashort 20+ Year Treasury EFT. The fund aggressively "shorts" long-term U.S. Treasury bonds, meaning that it performs well when U.S. debt is undesirable. (A short is when the trader hopes to profit from the decline in the value of an asset.)
Eric Cantor will personally profit if the US defaults on its debts. He may profit just from the uncertainty surrounding the debt ceiling negotiations if that uncertainty causes US Treasury bonds to become less desirable investments.
So when he storms out of the debt ceiling negotiations, one has to wonder, is it just a childish snit, or is he purposely trying to scare investors off of T-bills?
Either way, the sonofabitch is betting against the US of A. When Pete Rose got kicked out of baseball for betting, his one saving grace, the one thing that made it possible that he might be re-instated someday, is that he never bet against his own team. Eric Cantor is betting against his own team. It may be legal, but it's wrong. It's wrong and he should be given the Pete Rose treatment.
Including being forced to wear the haircut.
2 comments:
I wonder how many others are doing the same thing?
Eric cantor is a lot like that twelfth grade bully who, after making other students’ lives depressing, still gets the credit for something he didn’t do. Don’t you think? Eric Canter is synonymous to bullying. He’s a lot worse than Boehner. That’s just my opinion.
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