Watching the political wrangling going on in Washington right now over the "fiscal cliff", it makes one wonder whether or not our politicians are "gaming the market". After all, they know that if they let the nation go over the fiscal cliff, that stocks will plunge...they could then buy up blocks of stock cheaply, turn around and retroactively pass legislation to patch up the economy and watch as the stocks they bought so cheaply rise quickly in answer to the passed legislation.
Am I just being cynical? Maybe, then again, it seems that our politicians are some of those wealthiest Americans that could afford to do something like this, and want to be protected from higher taxes to boot! When politicians only have to make vague hints and allegations that can cause the stock market to fluctuate wildly, it seems like it would be all too tempting to use those comments to make yourself some easy money!
No comments:
Post a Comment