I know. It's so sad. Have you noticed how many of these douchebags start sentences with "I'm the biggest free market guy you can find, BUT...."? So, in other words, they aren't free market at all.
Cramer was'nt complaining when we had a bull market on banning ultra long financial etf's or for that matter even asking to bring back the uptick rule to short. This guy just wants to blame somebody for his inability to make money in this market and his array of horrendous picks and advice. ultra etfs help daytraders make money with the volatilites that we have now. Why ruin a good thing for daytraders and place blame on us for a horrible economy that has nothing to do with trading ultra etfs. If you read that guy's book who used to work for cramer's hedge fund, cramer used to do naked short selling all the time along with numerous unethical sec violations. i say cramer should be prosecuted.
Uptick rule wouldn't have a problem with, because naked shortselling can be used just to knock a price down.
The one thing I do agree with Cramer: reinstating the Uptick rule. The vehicles are fine. Reinstating the uptick rule and enforcing existing regulations really levels the playing field.
How the hell does reinstating the uptick rule level the playing field? It levels the play field for the prop firms that charge $17-40 per thousand to short on a downtick. Someone will front run the shorts. They'll get crap fills. That doesn't level shit.
When shorting was made illegal on the financials, the financials got HAMMERED. This fact makes any argument for reinstating the uptick rule, based on the fear that shorts are able to pound stocks to the ground, illogical. Now if you want to enforce the naked shorting rules already on the books, I'm fine with that. But don't go reinstating the uptick rule. It is a fairer playing field with it abolished.