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March 29, 2008
Questioning Chelsea
Bruce Thompson
Chelsea Clinton took offense when questioned about her mother's reaction to the Monica Lewinsky affair, claiming it was a personal matter. Okay, let‘s ask Chelsea about Mom‘s cattle futures trading. Chelsea has been employed in hedge funds, so she can be assumed to have a basic understanding of the margin call.
Wikipedia states:
"For example, she was allowed to order 10 cattle futures contracts, normally a $12,000 investment, in her first commodity trade in 1978 although she had only $1,000 in her account at the time.[9]"
So Chelsea, given the current financial difficulties created by undercapitalized financial novices in the mortgage market, do you think it wise to have as President someone who allowed her broker to make trades on her behalf in violation of federal law requiring adequate margin? Your Mom got to play in the futures market without being required to ante up: is that how we can expect a Clinton Administration to regulate the financial markets?
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