I REALLY hate to break this to you, but this is all being done by the George W Bush Administration. Not Democrats. Not Liberals. The MBA President himself is to blame. He spent more than every single presidential administration before him COMBINED. Now he's killing our free markets. If you want to assign blame, it starts with W and works its way throughout HIS administration.
I warned you. I told you the backlash of Washingtn,esp. after they took the bribes and got their ass hung out to dry would be fierce. You can see it. I know the big boys in Ct were down there 'passing out money'. I wasn't told lobbying. I was told 'passing out money'. And what did they say? "Hey, vote for this. It's no big deal. Here, buy a car." This is the Government acting like the Government. Why not vent your wrath against those that caused the Govt to act.? Mack, Blankfein, that Swiss motherfucker, the other swiss motherfucker. They got in bed with these offshore guys, screwed the country...... hear Crames today? Said, it wasn't guys he knew. lMight be terrorism. We had guys sitting on their hands. Seeing Mack cry about things he was part of was pathetic. I worked there. They will do anything they can to hose their own customers, and I doubt that's changed in 11 years. They can't totally ban short selling. Anyone with Ultrashorts ETF's get wiped out. Hedgefunds get wiped out. It'll be the biggest squeeze since Mickey Rooney found himself between Jayne Mansfields' tits. Then again, Fuck it. Why not????? How can it be worse.
In case you haven't noticed, the Dems have been in control of Congress for about 2 years now. The President doesn't control these kinds of stupid policies, Congress + Senate ultimately does. Via political pressure on the folks that impelement these decisions, regardless of who appointed them. Senate Banking Congressional Finance SEC etc. By the way, if you insist on blaming Presidents, the first bubble (tech) was Clinton's (+ that fucking idiot Greenspan) and we've been reeling back/forth from them ever since. That is what started this pendulum swinging wildly. We are just feeling the last effects of it. It is common knowledge that a President's policies take much longer to filter into our lives, usually about a decade or so. Congress? About 2 years. Not to mention for 8 years Clinton was so alseep at the wheel for national security that we got 9-11 a few months after Bush took office. They planned it for 6 years or more. So wo do you think was the root cause of all this? Bush may have mishandled some of it but he sure as hell didn't create it. Learn your freakin' history and facts, please.
" WASHINGTON -- The Securities and Exchange Commission took its most aggressive assault against bearish stock bets by stating its intention to issue a temporary ban on short-selling. SEC Chairman Christopher Cox briefed Congress late Thursday of the agency's intention to take the extraordinary step of interfering with the market's regular functioning. Short-selling is a trading strategy of selling borrowed stock in hopes it falls and can be repurchased at a lower price. It's unclear if the SEC's intention has been approved ..." http://online.wsj.com/article/SB122178234612954617.html nitro
ok but the key is it hasnt been approved this could be a good short entry if they dont follow through, guess we will have to wait till market open tomorrow?
this is a huge deal... A. you can't have inverse etfs when nobody is able to short B. you can't trade options either because you can't delta hedge looks like stock markets ended today...hahaha - looks like i will have to start to work again.