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Thursday, December 06, 2007

John Deeth Blog: Huckabee Bought and Paid For -- on Iowa Electronic Markets

Excerpted from this post at John Deeth Blog

Mike Huckabee is passing another benchmark of legitimacy: as of noon Wednesday he'll be traded on the Iowa Electronic Markets (IEM). The IEM is one place where politicians literally are bought and paid for. In the University of Iowa business school project, traders buy and sell contracts on political candidates (not the kind of contract John Gotti tried to put on Rudy Giuliani). Traders use their own, real money (not Ron Paul Liberty Dollars) and for more than 15 years, the IEM has been known for its accuracy in predicting general election outcomes. ... "We've been watching our Rest Of Field price in the Republican national convention market," said [IEM's] Berg, "and it's been above 15 cents for a couple weeks and above 20 cents for the last couple of days. When that happens, we look around to see who might be in that Rest Of Field contract that we should separate out, and this time it looked like it might be Huckabee."

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