Why aren't most people connecting the dots with Cantor making $$ off default? [View All]

Cantor stands to make a killing off of U.S. default:

House Democrats are circulating a resolution accusing House Majority Leader Eric Cantor (R-Va.) of having a conflict of interest in the debt ceiling debate, a move that could provide an awkward C-SPAN moment for one of the lead Republicans in the budget negotiations.

The resolution goes after Cantor's investment in ProShares Trust Ultrashort 20+ Year Treasury ETF, a fund that "takes a short position in long-dated government bonds."

The fund is essentially a bet against U.S. government bonds. If the debt ceiling is not raised and the United States defaults on its debts, the value of Cantor's fund would likely increase.

http://www.huffingtonpost.com/2011/07/08/eric-cantor-conflict-interest-debt-limit_n_893354.html

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I think a few people may have posted this story here. Other than that, only Randi Rhodes has discussed this...