The Daily Caller

The Daily Caller
House Majority Leader Eric Cantor of Va. speaks to reporters during a pen and pad on Capitol Hill in Washington, Wednesday, July 6, 2011. (AP Photo/Manuel Balce Ceneta) House Majority Leader Eric Cantor of Va. speaks to reporters during a pen and pad on Capitol Hill in Washington, Wednesday, July 6, 2011. (AP Photo/Manuel Balce Ceneta)  

Does Eric Cantor have a conflict of interest in debt ceiling debate?

House Majority Leader Eric Cantor (R-VA) could face a resolution brought by House Democrats accusing him of having a conflict of interest in the debate over the debt ceiling, the Huffington Post reported late Friday.

According to the resolution, Cantor’s investment in ProShares Trust Ultrashort 20+ Year Treasury ETF means he could stand to gain if the debt ceiling is not raised. The fund bets against U.S. government bonds, and if the country were to default on its debts, the value of Cantor’s fund could increase. (Rep. Cuellar: Cantor’s withdrawal from budget talks good for Democrats)

The resolution, the Huffington Post writes, says Cantor “may be sabotaging [debt ceiling] negotiations for his own personal gain.” The resolution goes on to say that Cantor has “compromised the dignity and integrity of the Members of the House.”

Cantor’s spokesman, Brad Dayspring doesn’t just say this is wrong. He says it’s the opposite of the truth. Cantor has only about $3,300 invested in the trust in question, while he has more than a quarter million dollars in a congressional pension plan dependent on government bonds.

Dayspring put it this way: “For the conspiracy theorists — they would have to believe that Eric would want to lose hundreds of thousands of dollars to make a few thousands in return.” He called the insinuations made in the resolution “outrageous.”

Cantor recently removed himself from budget negotiations anyway, saying he wouldn’t consider a deal until Democrats addressed tax issues.

  • DANIEL CABRERA

    Conflict of interests? Your guess is as good as anyone else.

    The ruth is that specias (selfish) interets are the fundamental rock for ‘politics as always’ there in Washington and every place else where politicians of no scruples are in charged.

    One thing is celar -nothing is happening, liberals and rino-type deal-maker sold-out republicans are just toying with the people, – PRETENDING – keeping ‘politics as always’ ….talking and talking and doing nothig, ABSOLUTELY NOTHING!

    The 2010 vote did not serve the desired expectations, so on 2012 we have to vote in very fulminant manner otherwise we loose what is left of the country to the CORRUPTED AND FRAUDULENT ORAGANIZATION NOW IN PLACE (THE CHICAGO MAFIA-STYLE CORRUPTED GROUP BETTER KNOWN AS THE OBAMA GANG)

    The american public is well aware about what is going on with the current admininstration, – their roots, they agenda,tendencies and purposes…;and the admininstration there in Washington are made of liberals and rino-type republicans with common interests for their own purposes where the american public are secondary.

    Bottom line, since this is a clear battle to the end between patriots (WE,THE PEOPLE) and traitiors (THE CURRENT ADMININSTRATION OF WASHINGTONIANS CORRUPTOCRATS),… benefit of the doubt nor truce should be given to them (specially the liberal factions) for they were – and still – ruthless doing and atempting to do even more damage in so many ways, to our great country.

    People, we need beeter leaders for our nation, and the classic old school republican group (GOP) is not coming out with the best of candidates…we have seriously to call-in the ones we all know will make the real difference.

    We all very well know who THE OBAMA GANG AND THE OLD SCHOOL OF RINO-TYPE REPUBLICANS ARE AFRAID AND TERRORIZED OF, don’t we?

    Input anyone?
    Opinions welcome.

    Daniel Cabrera
    Merrillville,Indiana

  • KenInIL

    Insider trading is allowed by Congressmen/Senators. That’s how they get rich!! Half the congress probably has bets on one side or the other on the debt ceiling outcome.

  • MJHBAMA

    Everybody in this nation has a “conflict of interest” in this. If they raise the debt ceiling we all stand to lose everything. If they keep it where it is and lower expenditures and taxes, we all stand to gain.

  • bobdog

    House Democrats have a conflict of interest, too. They’re undermining Cantor, the House, and our country for personal gain, and it’s a much easier case to make.

    When can we expect hearings on that?

  • Pingback: Does Eric Cantor have a conflict of interest in debt ceiling debate? (Daily Caller) | Sports, News, Entertainment, US Legislation

  • tdogco

    Cantor is a gutless wimp.