In The Short RunPosted: 30 June 2011
Ethics? We have all heard of the so-called ethics investigations by the Congress….or the threat of an investigation……Weiner’s weiner comes to mind…..Rangel’s monetary antics……Ensign’s poking a staff member…. all the antics by our not-so-squeaky clean representatives. I have been calling them everything I can think of except effective law makers…..most of them are do nothing pigs….
I recently wrote a post about the insider trading done by members of Congress….that is that members had been making lots of cash trading on information that they got while serving on various committees….and I asked why there is NO ethics violations and the no need for investigation…..but read the post if you need to have it cleared up a bit…….http://bit.ly/jeYLqt
But why am I re-hashing all this? Good question…..
Let us go back to last week…..the negotiations on the debt crisis with VP Biden did not end well…..Majority leader of the House walked out of the meetings…..that would be Eric Cantor…..and we heard all the clap trap about tax hikes off the table and that Obama is NOT serious about debt reduction….yada yada….all the conserv talking points……but did you know that the big cheese Cantor is shorting US bonds?
Shorting, in investment terms, means……Selling a SECURITY, such as a SHARE, that you do not currently own, in the expectation that its PRICE will fall by the time the security has to be delivered to its new owner. If the price does fall, you can buy the security at the lower price, deliver it to whoever you sold it to and make a PROFIT. The RISK is that the price rises, leaving you with a loss.
In a piece written by Steve Tarlow…..
Debt ceiling negotiations were shut down by House Majority Leader Rep. Eric Cantor (R-Va.) last week. This raised renewed fears that the U.S. is on the verge of total credit default, and it raised a question as to whether Cantor – the GOP’s key operative in debt ceiling talks – has a “glaring” conflict of interest. According to Salon, Cantor may be fighting against government credit default in Congress, but he’s personally invested in a mutual fund that will “skyrocket” should default occur.
Okay now get this right! The person that is leading the negotiations on the debt crisis for the GOP will make a substantial profit if the country fails and defaults…..GOT THAT! The man is BETTING on the failure of the country! And to beat all, he is the lead man in the negotiations trying to find common ground to save the country from default…..
I asked before why they will not investigate those using inside trading on info they get in their job and now I ask WHY is Cantor NOT up for an ethics investigation? This guy whose party is so centered on America to succeed, then why is he betting against it?
It is time for Americans to wake UP! Know your representative….if these guys and gals are taking the country to the cleaners then we need to DEMAND more ethics investigations…….but there will be few investigations…..why? These people try to protect their own and in doing so are just as guilty as those caught in the act (whatever that may be)………
If you will recall, the media was all over Weiner’s weiner (pun intended)……they spent an inordinate amount of time and with the help of the GOP made this a 2 week story….but yet NOTHING as far as my previous post or the Cantor thing……why is Weiner’s weiner so much more important than the financial shenanigans of elected officials?
We need to demand an ethics investigation into the underhanded antics of elected reps and they need to be held to something that they are seldom held up to……accountability!