Discussion in 'Current Events' started by Sleeve_meet_Heart, Jun 28, 2011.
Thinking that $15,000 in investments for someone in his position will sway his vote is laughable. UP 3.3% = $495.
While this hedge fund goes up, his other investments would be going down.
I'm pretty sure I've got more money than this in hedge funds and I sure hope my hedge funds do badly.
This example is just a taste of the hypocrisy on capitol hill. There are many politicians who are "betting" against the us economy and stand to make millions on a collapse. Most of them just happen to be republicans or their wives where most hide these investments.
Even the president wants jobs happening in S. America and wants to invest a couple billion $$ so they'll have jobs there.....big-ass conflict of interest. AND he wants us to spend again and buy their product. Cut the middleman crap and drill at home, making lots of jobs and keeping the product here.
Opinion or fact? Facts can be proven.
So is it a conflict of interest or not? This sounds a little like a quarterback betting against his team. Regardless of the $$ amount, I don't like it.
Almost every investment portfolio includes a hedge fund of some type. I doubt if the Congressman even picked it out. A financial adviser probably would have described it as "a fund that will protect you against downturns in the market. Your not going to make money off this and we hope you don't".
I don't like politicians much and enjoy bashing them with the rest.
There are much more credible things to fault a politician for than the fact that he has a boilerplate investment portfolio ... as I said earlier, I've got more in a hedge fund than this guy does.
In fact, I would tend to more concerned that you have the #2 person in the House and his wealth is so small that such a small amount ($1000 - $15,000) is in a hedge fund. Right now, financial advisers are suggesting 10-15% in a hedge fund - but to soften my criticism, he is younger than me and can assume more risk than I can. By the way, that's what a hedge fund does - it reduces the risk in an overall investment portfolio.
I understand what you are saying, I'm sure I have a few dollars in hedge funds as well. I don't everything that is in my portfolio.
My point is, sometimes it's better to avoid the appearance of wrong even though it is truly minute.
One of my center manager's favorite words is "perception". I think it applies here.
I'm no fan of Cantor so any dirt would be wonderful but IMO this ain't it. As Hoax correctly said, Cantor risking career and his political life to boost at the highside $15k is really reaching for something that just defies any logic or reason. But then again we are talking about politicians!
If you really want to look hard at a politician where something is suspect, then consider this. A certain politician in Congress for the year 2009' had a net worth of $21 million and in 2010' that net worth increased 62% to $35 million. A 62% increase in a single year, during a depres...OK they still call it a recession? I'd be far, far, far more concerned over that than a hedge fund investment that "could be" up to $15k!
So, San Fran Nan is doing quite well, huh?
We all knew she was a scum bag and used her position to help her hubby's business.
I don't disagree with the amount of money involved with Cantor's hedge funds being a non-starter, however that $$ amount could change at any given time, plus it is more of a principle than an actual amount. I know that most politicians are pretty much scum bags regardless of their party affiliations. The really sad part is, IMO few of them are even aware that they are that scummy.
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