Wow. Cantor is LITERALLY betting against the health of the U.S. economy.

[pnwmom]

He's invested in a financial product that will only pay off if the Treasuries tank.

And he's just walked out of negotiations to raise the debt ceiling.

Smell any conflict of interest there?

http://www.rawstory.com/rs/2011/06/30/cantor-could-rake-in-windfall-if-debt-ceiling-isnt-raised/

Economists have said that failing to raise the debt ceiling could be catastrophic for the U.S. economy, but at least one lawmaker stands to gain financially if the country defaults on its debts.

House Majority Leader Eric Cantor's (R-VA) latest financial disclosure statement indicates that he owns up to $15,000 of ProShares Trust Ultrashort 20+ Year Treasury EFT, a fund that will likely skyrocket as U.S. debt becomes less desirable.

"If the debt ceiling isn’t raised, investors would start fleeing U.S. Treasuries," Motley Fool's Matt Koppenheffer told Salon. "Yields would rise, prices would fall, and the Proshares ETF should do very well. It would spike."

"Cantor's involvement in the fund and negotiations is not ideal," he added. "I don’t think someone negotiating the debt ceiling should be invested in this kind of an ultra-short... It looks pretty bad."

SNIP

[Luciferous]

1. This kind of thing should not be allowed. It's a clear conflict of interest.

[hedgehog]

2. Wow!

[DonCoquixote]

3. "when treason doth prosper

none dare call it treason" Alexander Pope.

[malaise]

4. Are there any other ReTHUGS doing the same thing? n/t

[pnwmom]

6. Good question -- especially among the "negotiators."

I wonder if they all are?

[neverforget]

5. Where there's a buck to be made off of misery, you'll find a Republican

[90-percent]

7. Here's a conflict for you

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x596691

?This is a DU link to Max Keiser. In this vid, Max claims that members of Congress are EXEMPT FROM INSIDER TRADING LAWS!

I like Max

-90% jimmy

[pnwmom]

8. I found another link so I wouldn't have to watch a video.

This IS disgusting.

http://www.politifact.com/truth-o-meter/statements/2009/aug/06/public-citizen/public-citizen-gets-it-right-about-insider-trading/


But with members of Congress, it's different. Unless lawmakers have some express confidentiality agreement — whether it's in writing or in word — they can do whatever they want with the information they obtain on Capitol Hill, Newkirk said.

Bruce Carton, a former Senior Counsel with the SEC's enforcement division and current editor of Securities Docket, agreed there is uncertainty about the rules. "Insider trading depends on some kind of duty. You can steal information, but unless you have some sort of duty of confidentiality to it, you're not going to be held liable," Carton said.

Right now, there is no duty of confidentiality for Congress, their staff or executive branch employees, he said.

"It may be unethical, and it may be unseemly, but it's not illegal," Carton said.

[Frustratedlady]

12. What did Martha spend time for?

How are these clowns any different. They should be restricted.

[WhiteTara]

9. I called his office a couple of days ago about it and

called him a traitor. I hope others follow suit and call him on his treason.

[Glimmer of Hope]

10. That ain't right.

[musette_sf]

11. none dare call it......