Take a look at what he admitted. He admitted, that the USS Titanic that regulates the industry let the hedge funds ravage the landscape. How many legit companies were destroyed? So now, as Patrick Bryne just said in an email, 'we have an apartheid market." It is illegal to illegally short several issues, but it is allowed to illegally short the rest. I'm sorry, but these people should be held responsible for the damage they've caused. Since that amount of money doesn't exist, I guess that'd mean jail.
I thought bush was against a Gov. bailout. just ridiculous. Did you here him struggling to explain the FDIC?
To clarify, I agree that naked shorting is wrong and needs to be addressed. I just meant that as an individual trader nothing that was said today will have an effect on my trading.
I guess the trade here is to short the broader market and long the financials or the dow. Other thoughts?
1. You're dealing with the most vicious, insideous bastards that ever walked. They kill people. For real. They won't give up easily. 2. There are enough tail chasers to cause a pretty good squeeze, but your timing has to be perfect. 3, FTD means, fail. Since settlement is T+3, Today's fails occur Monday. No easy answer. But I think by Tuesday the GSEs and Dealers have to be higher. Let's see the SEC's press release this afternoon.
You have no clue how your own country works do you? Capitalism is evil ... ALWAYS has been ALWAYS will be. If you want fairness move to a socialist country. Try moving up here to Canada for a month and see how you like being forced into mediocrity. It's just wonderful being punished because I'm smarter then everyone else and I understand the power of leverage. Oh wait - that's not right ONLY the 5 massive banks in the country are allowed to use leverage because they are so much more responsible then me.
SO TRUE!!!!!!!!! When we get odumba, I feel we'll get there that much quicker too. Odumba will re-enact the assault weapons ban. i.e., buy your AR-15's, and AK-47's right now along with the 30rd magazines. Once he takes office, they'll go up 150% minimum! I said minumum!!! When slick willy put the ban into effect in 1994, Glock magazines that were going for $17.95 each went to $129.00 in less than two years. I have the shotgun news (wholesale paper for gun dealers) to prove it. The one (maybe the only) good thing Bush has done is let the damned thing expire. You can buy an AK-47 (semi-auto of course) for $400 now with a folding stock. In 1995-1998, they were going for $1,700-$2,500 for the same damn thing! The only thing... The only damn thing standing in the way of the government doing anything they want to us is the fact that America owns guns, and will fight to defend the Constitution, and our FREEDOM. (I own them, and WILL fight!) God bless Texas btw!!! Yes, absolutely MRDODGE is right. We are not only headed towards socialsim, we're in a trend towards it which 50% of the Country is too damned dumb to even know of, or care. I sat and watched Uncle Ben on CNBC (Yes ,I know CNBC...) in my office this morning, and switched back and forth between him and Bush. I was literally standing here saying outloud WHAT THE FUCK?!?!?! Who the fuck is running this Country? What happened???? These guys are dumber than last week's sled tracks! I just cannot believe what I heard. Has to be a bad dream. Between his comments (I voted for Bush 2x, so I can bitch about my vote), and Uncle Ben/Paulson, and the dickhead with the SEC, I really believe we need to take the flag with us and run like hell, as this is no longer the America I knew and loved. I don't know what else to say besides the fact that I wish I could just hide my head in the sand and act like everything is good to go in America. When in reality, we're going to hell in a hand basket due to the dumbing of America, and the communist shit that's making it's way here each day. Can't some of you get elected into political office, and fix this mess with a strong dose of common sense? Despite all the differing opinions here about making $$$, I do notice more common sense on this board than most, so please help! Get elected, and change this mess!!! Btw, I loved the Kentucky Senator Jim Bunning's "comments" to Uncle Ben about the socialistic shit he's tired of! If you missed it, it was a good one! WOW! I wish I lived in Kentucky, so I could vote for him! Sorry about the rant. I've been fuming all day over what I saw and heard this morning/afternoon from our "leadership."
Yeah, I do know how my country works. I know the people that lead the country can't stop from taking bribes and selling us all down the river. I said on the threads I started here three years ago that if we didn't cut the criminallity in the bud, it would lead to massive govt/ regulation. Ta DA!!! Here it is. So, you're smarter than everybody in Canada, ey? Well howcome you can't overcome the system? And you worked in a back office? Yawn. We hired your bosses. Now, they tell us how you do it. We had guys tell us years ago naked shorting can't happen without back office guys who make 500 a week. No surprise there. You're not smarter than anyone. What is odd, is that these lyin' bastards are all pointing fingers. Wait till the money trail comes out. That'll be a hoot.
Flyingtiger I have seen the greed from the inside, and it was sick. All of this was brought on by greed, and it's going to cost those of us who are trying to survive out here while doing the right thing for our Clients. I need a drink. Wait, I don't drink anymore. I have an idea: I'm going to hit the squat rack in a little bit, shower, and mix two shots of Jack Daniels in my Chocolate protein shake. Please don't tell my Wife.:eek: