http://www.cnbc.com/id/15840232?video=806417851&play=1 Of course, for three years, he argued that there was no such thing. Amazing what the pitter patter of Federal agents 'll do.
"The poorly run, less intelligent hedge fund managers, need to use every trick in the book to make money." Interesting
Why don't they just ban shorting all together. Just get it over with and put traders out of their misery. btw: cramer is a tool.
I agree that we can't allow "Naked Shorts" however we need to have the sec enforce the laws already on the books. It is Just like our Government to not enforce the laws and then make new rules because they do not enforce them. BTW Cramer is a Jerk! Nick
Wait till GS goes down along with everybody else. we will see purchase only market. sells will be only allowed to be limit non-marketable orders, longs can be market. 'you are only allowed to lift the ask you unpatriotic fool, wtf you dont support the financial system?'
Gotta give flyboy some props. He's been beating the naked short drum for a long time. And all the while, the Kramer and CNBC Krew's response to the issue was "That PB sure is a nutjob...It's all in Bryne's deranged head because OSTK is such a dog...If there is naked shorting going on, it is a very small part of the market..."
Any great hedge fund knows where to borrow the stock from. The SEC is simply masterbating. They know that the shorts are not the manipulating element they are trying to portray them as. Trading by buying is the same as trading by shorting. Its simply the buy and sell output. unlike the demise of the markets in 2000 where countless wealth disappeared into thin air; the shorts are actually pocketing money and transfering some of those profits back into the American economy. SHort the markets and see if you make money. After you borrow the stock its a good way to make money short term. The SEC knows where the bodies are buried and they know that bananas will be used for oil pretty soon. Haiti will be the next Iraq as we invade them for their banana trees.
The stock market is not a ponzi scheme, not a scam, not a casino for traders and speculators. The stock market's main purpose is for transfer of shares or goods between buyer and sellers. It's not a place to preserve wealth or private members club for the rich. It's not the responsibility of the FED or gov't to keep your paper profits look good. Stocks and commodities would still trade even if there were no derivatives such as options and futures. Last post.