The Dow and the GOP

An interesting article by Donald Luskin, who reported heavily on the manipulation of the futures contracts in the 2004 election.

"On Jan. 20, stocks took their biggest one-day drop in almost three years…on Friday, there was a second one-day crash, but it's one you probably didn't hear about. That day the futures contracts on whether the Republican party will keep its majority in the House of Representatives in the elections this November crashed from a price of 69 at Thursday's close to as low as 60 on Friday — a drop of 13% in a single day."

The Elephant in the Room