Your Disaster Capitalism Overlords At Work
Congress Members Bet on Fall in Stocks
"Some members of Congress made risky bets with their own money that U.S. stocks or bonds would fall during the financial crisis, a Wall Street Journal analysis of congressional disclosures shows."
"According to The Journal's analysis of congressional disclosures, investment accounts of 13 members of Congress or their spouses show bearish bets made in 2008 via exchange-traded funds—portfolios that trade like stocks and mirror an index. These funds were leveraged; they used derivatives and other techniques to magnify the daily moves of the index they track."
As I've noted ad nauseum, once we as a society allowed people to profit from disaster, disasters will continue to increase. Think that congressional slugs won't pull strings to make their bets come true to fatten their portfolios?
"Some members of Congress made risky bets with their own money that U.S. stocks or bonds would fall during the financial crisis, a Wall Street Journal analysis of congressional disclosures shows."
"According to The Journal's analysis of congressional disclosures, investment accounts of 13 members of Congress or their spouses show bearish bets made in 2008 via exchange-traded funds—portfolios that trade like stocks and mirror an index. These funds were leveraged; they used derivatives and other techniques to magnify the daily moves of the index they track."
As I've noted ad nauseum, once we as a society allowed people to profit from disaster, disasters will continue to increase. Think that congressional slugs won't pull strings to make their bets come true to fatten their portfolios?
posted by nolocontendere at 7:17 PM
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