Saturday, February 25, 2012

Current Intrade odds for a brokered Republican convention? 17.2%!

Not the highest probability exists for a brokered Republican convention and not the lowest, but certainly not an insignificant probability either!

Source: Intrade

"Jeb Bush calls it an unbelievable scenario. Karl Rove says life in Pluto is more likely.

Still, national Republican Party officials and attorneys are quietly preparing for a prospect that no longer looks inconceivable: By the time thousands of Republicans converge for their convention Aug. 27-30 at the Tampa Bay Times Forum, they will not have a nominee.

"Everybody that says they've got a crystal ball about the 2012 presidential election should have their head examined," said Phil Musser, a Republican strategist supporting Mitt Romney. "There have been more loops in this race than the roller coaster at Space Mountain, so for anyone to say unequivocally that we couldn't have a convention laced with drama strikes me as premature." (Source)

Definition of a brokered convention

"Once the first ballot, or vote, has occurred, and no candidate has a majority of the delegates' votes, the convention is then considered brokered; thereafter, the nomination is decided through a process of alternating political horse-trading, and additional re-votes.

In this circumstance, all regular delegates (who, previously, were pledged to the candidate who had won their respective state's primary or caucus election) are "released," and are able to switch their allegiance to a different candidate before the next round of balloting. It is hoped that this 'freedom' will result in a re-vote resulting in a clear majority of delegates for one candidate." (Wikipedia)

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