05 July 2011

The Social Poets: Arrest GOP Rep, Cantor For Manipulating Treasury Bond Market During Debt Talks?

Speaker Boehner, left, Whip Cantor, right, photo by Alex Wong, Getty Images

The Social Poets: Arrest GOP Rep, Cantor For Manipulating Treasury Bond Market During Debt Talks?: "From Denny: Talk about scummy politics. The Dylan Ratigan Show was reporting this week about how Congressman Eric Cantor, R-VA, is betting against the American, even the world, economy.

Remember when he threw a huge hissy fit and stormed out of the debt ceiling budget talks with top Congressional leaders led by VP Joe Biden? Something about that move was so calculated and sure stuck in my memory. Well, it wasn't long before the Universe intersected me with the Information Explanation.

Turns out that Cantor bought shorts in the stock market, betting the Treasury bond prices would go down as a result of the breakdown in debt ceiling talks. So, let me see if I understand this correctly. A top political leader, the number two guy in the House of Representatives, declares the debt ceiling talks are at an impasse."
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