Discussion in 'Economics' started by crgarcia, Jul 16, 2008.
If they knew the bottom is near, why would they blame shorts?
If they really thought it was just short selling taking the market down why wouldn't they all just buy and cause the shorts to cover? Maybe they tried that and endded up bag holders and are trying to save face with the whole short selling scapegoat.
You are using logic, tut tut.
There are a few parallels re the naked short excuse.
OSTK and the us gov't run a business that doesn't work in a flea market sort of way. (We don't make anything we buy and sell other people's junk)
The US does have an overstock of housing and assorted financial paper in inventory (money, bonds, etc) that's hard to put a price on but, hey, free delivery and shipping.
Congress is a prime broker.
Bush is the DTCC.
Joe sixpack has always been a bagholder.
Short selling is the very least of our problems
Santelli for President!
Refering to the idiot filled government butting into the markets, he had a great line today with help from the Wolfman.
"If you don't like where stocks are trading MAKE IT ILLEGAL TO SELL THEM. If you don't like where commodities are trading MAKE IT ILLEGAL TO BUY THEM".
The SEC is not targeting short selling. The SEC is targeting those that are short selling without pre-allocating the shares ahead of time.
That is not allowed, and the SEC should have stomped all over that...
High crude oil prices are bad for the economy. Falling stocks are bad for the shareholders and the economy. It is only natural to find scapegoats. However naked short selling is illegal and SEC is just doing what is meant to do in the first place .. make sure everybody plays by the rules
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