Melodramatic? Maybe. But this ban on short selling is the beginning of the end of the Financial Markets. How can you have a Market if you ban short selling? Anyone believes the markets will jump for joy and go up in a straight line and we attain a state of Nirvana? No. This 1000-point rally will evaporate and the markets will sink as soon as the sane among us realize this is a huge con game played by those who want to apply bandaid solutions to problem that requires far more than stopping short sales. I am tempted to characterize this acton as unAmercan but I see the wimps in Europe are playing along. This rule will be reversed in a month or two. They will be forced to revert to pre-September 18.
They know this but they have to fix some rules first. (up tick will come back, leveraging % rules on hedge funds, FASB157 abolished) Just take a chill pill.
Why are we even talking about this? We already know that the ban on short selling is just temporary to provide some needed support to the financial stocks. Jahahee, did your mother drop you on the floor on your head when you were a baby?...bcuz your brain sure works like it.