Be careful what you wish for. One of these days you are going to be holding shares of a $2 company trading at $100. You will wake up to find out that your retirement account has been wiped out leaving you broke and desolete. You will ask yourself how could this have happened? Shouldn't the government have protected me? The answer will be painful and brutal. Free markets and democracy protect people NOT governments but you can find that out on your own .. when its too late. It never ceases to amaze me just how stupid people can be.
Yup. And the Government will protect them oh so far, and then, they'll drop the ball. And that will be it. This is just the beginning. There was one voice, Jim Bunning, speaking against Paulson, and he was ridiculed. I see tonight Paulson says they have the votes. To pass the GSE bailout, FORCED ON THEM BY NAKED SHORT SELLING AND RUMOR MONGERING, regardless, it's done. And one more step toward Government control.
Why do you stalk him? You're just a jealous little bitch because you'll never even have 1% of the money that he has.
I take great pride in the fact that I have been calling for the govt to step in and do something about the abusive , selfish, manipulative scum that inhabit wall st. I short all the time, in fact I prefer shorting to going long. I'm a born pessimist. But it's clear to anyone with half a brain that the gang ups and uptick rule change has created a dangerous situation. Those that did not see that have something like a tenth of a brain, so that's their excuse. You know who you are.
flytiger , forget these idiots. They are the same crew that paid 5X what their house was really worth cause that was the 'market' price.
I was able to trade with the uptick rule, and without it. No big deal. If you really wanted to short, you just went to stocks listed on the nadsaq. GE I remember was hard to short. You were usually last in line on the offer if you had a short. But, this is not a big deal. You can still hit the bid on futures. I don't mind either way, I'm indifferent. I would love it if NYSE went back to the old days of just the specialist without the algorithms, but overall, don't get your panties in a bunch over this. I actually think it's dumb though. They had a test program for years without the uptick rule versus stocks with the uptick rule and found no notable difference. But then again, the overall market was in a long term bull run during the testing. So, who knows. The timing of the repeal of the uptick rule is a little shady. Just before the subprime collapse they take it away.The hedge funds have been milking this pig for all it's worth. Now when the crisis is probably mostly done, they put the rule back in place.
Well count me among the "tenth of a brain" contingent. What a fucking joke, you actually think that the whole mkt meltdown is because of some Boogey man rumors and a little short selling, give me a break. The reason this shit is coming unglued is because everyone has been turning a blind eye to the assinine leverage that the FNM and FRE 's of the world have been operating with and crossing their fingers hoping the whole thing doesn't blow up. Well guess what, it didn't work. The music has stopped and there appears to be a shortage of chairs. All this pissing and moaning about short sellers misses the point. The prices of the GSE's and financials have been coming to earth like Value Jet airliners over the Florida everglades because they are toxic shit, and built on a house of cards. Not because I shorted a few thousand shares, or cuz Stevie Cohen shorted a few hundred thousand. The emperor has no clothes folks, and the shorts aren't afraid to say it. If these companies don't belong in the shitter they will bounce, and hard (just like today). However, Fannie and Freddie are leveraged to the tits and have been writing checks they can't cash without their daddy's help (Uncle Sam). If you want to be willfully blind to it, that's your perogative I suppose, but don't blame the shorts for creating the problem. It's the fault of those who were asleep at the switch while Fannie and Freddie were out partying like no tomorrow and telling the bartender to run a tab saying, "relax you know my Uncle Sam is good for it". Let's not even get started on the issue of 'tier 3 assets' with investment banks. LOL, ask me no questions, I'll tell you no lies. I guess it's ok if your wife is out screwing all the neighbours, as long as no one tells you about it.
Those GSE's and banks lent to deadbeats like you. I would not have lent 90% two cents, and the other 10% would have had to put up 50% cash. The real problem is the GSE's and banks have been too kind to toothless pond scum.