What would happen if OBAMA held a SHORT POSITION BET On the US Dollar?

[aggiesal]

This story was reported last week, but it never grew any legs.
http://www.dailykos.com/story/2011/06/30/989616/-Eric-Cantors-short-bet-reveals-real-GOP-debt-ceiling-weakness

But I'd be willing to bet if Obama held this position, it would be
all over the news.

The story I'm referring to is that Congressman Eric Cantor,
the House Majority Leader is holding on to a Short Position
on the US Dollar.
What does this mean?
It means that he's betting the the Dollar will go down in value.

He's also the main negotiator that appears to be holding up the Debt
Limit increase agreement.

If the the Debt Limit is NOT increased, chances are that the Dollar
will go lower, and Cantor could theoretically make a boat load of money.

For this reason, he should recuse himself from any Debt Limit negotiations.

Just a thought

Just made Typo correction

[Kurmudgeon]

1. It just gets more nightmarish every day, doesn't it?

[indepat]

2. The libral media would be on this story like ugly on an ape, crucifying BHO and the

entire Democratic Party as unpatriotic if not treasonous. :patriot:

[Dept of Beer]

10. Apes are anything but ugly. They're beautiful creatures.

[indepat]

11. Agree

;)

[taught_me_patience]

3. I've said this before and will say it again: This is NOT a big deal

$15,000 is a small investment and Cantor will not make a "boatload" of money from the investment.

Secondly, he can make the argument that he believes that economy will improve, thus driving up bond yields, and increasing the value of his bond shorts.

[aggiesal]

12. If he makes $1 it's a big deal.

Because he's in a position that would allow him to
make it happen.

He probably only has about $15K, but his handlers
could have a lot more.

[taught_me_patience]

13. By that standard, no politician could ever invest in any stock

A completely unrealistic standard in my opinion.

[TheWraith]

4. That would be incredibly illegal, actually.

The President is required to put his investments in a blind trust when elected, so as to avoid any improper influence on his actions... which makes me wonder, why the fuck don't we do that with Congress?

[lifesbeautifulmagic]

5. i am just so sick of the shit repubs can get away with

forget Obama, but if this was a dem, any dem, all of the media heads would be marching around in a circle just fucking blaring this at the top of their lungs. Tens of reporters from all agencies would be hounding the dem, demanding to know when he would de-vest, and then after he did, the reporter count would jump to the hundreds, following him around demanding to know when he would resign. AFter all, the act of de-vesting just proves he KNEW he was betting against America!!!

then there would be all fucking sort of discussion on the liberal boards - how he should resign NOW so we could get back to the important stuff, how no one in the press is talking about ANYTHING else, what a major distraction this is,

jezus, i am just so fucking sick of this

[HopeHoops]

6. FOX would be all over that like a missing white girl in Aruba.

[melm00se]

7. require blind trusts for all elected and appointed officials

problem solved

[Uncle Joe]

8. Kicked and recommended.

Thanks for the thread, aggiesal.

[Aerows]

9. Those in Congress

nearly unilaterally have a better yield on their investments than even hedge fund managers. What does that tell you?

As has already been suggested - require a blind trust fund, and some of this shit will stop.