Is this the kind of thing Soros could do?
Obama backer Soros?
I think it could be terrorism.
Or - at least opportunistic terrorism, i.e., they already saw a problem, but decided to accentuate it.
I think it could be terrorism.
Or - at least opportunistic terrorism, i.e., they already saw a problem, but decided to accentuate it.
I was thinking the same (but more related to the election) and posted a thread on this yesterday.
http://www.freerepublic.com/focus/f-bloggers/2084505/posts
Well, if true and they're not in it for profit, the old rules won't work either.
Ban short selling by foreigners?
Instead of dumping, move to under priced investments. Do people realize how cheap MSFT and other stocks are right now? Microsoft, for example, has more raw cash on hand than outstanding share value.. Remember the Jack Welch philosophy- when people panic, buy. When people are greedy, sell..
The problem is not shorting, but ineffective enforcement of existing rules against naked shorting.
We should resist calls to put bandaids on the problem. The uptick rule qualifies as a bandaid.
...to protect themselves from a meltdown they knew was coming?
Gee, I certainly hope the trail doesn’t lead back to our pals the Saudis.
McCain is right that Chris Cox should go.
He seemed like a decent guy, but as head of the SEC he has been an incompetent.
He abolished the downtick rule for short trading at the worst possible time, and he has failed to punish those who are behind massive “naked shorting,” which is illegal.
Now he has apparently agreed to “temporarily” end all shorting. That will be a disaster.
As I said, I don’t have any idea WHY he has done all this, but he really needs to be replaced for his stupid handling of this crisis.
Soros
Gee, I certainly hope the trail doesn’t lead back to our pals the Saudis.
this crisis is a lot of STOCK MARKET BULL SHEET.
Today the DOW has gone down from around 14,000 to 11,000. 3k. Around 21 percent. From Oct. 2007 to present.
Consider that in the 2000 - 2002 time span the market lost 36 percent. Included in this was the worst terrorist attack in US history.
From around 11,700 to 7,800. 4k.
It was much worse then and we didn’t have the Government freaking out and handing out almost a trillion bucks and taking on more trillions worth of loans.
But this time its during a Presidential Election!
....this time the congress is controlled by democrats
....this time the ability to short stocks is much greater because the democrats got rid of the UPTICK RULE....
- it required that a short sale be made only at a price “higher than the last different price.” In other words, you couldn’t short a stock unless it first ticked up an eighth- or a quarter-point.
Thursday - short selling of financial stocks has been banned in Britain
If before
the DOW dropped 36 percent from 11000 and we survived,
.. yet now we drop 21 percent from 14000 and we are worse off?
B.S.
Decades of irresponsible lifestyle and manipulation and inept regulators is what caused this. It is like the S&L crisis only much,MUCH worse. That wasn’t terrorism either.
I don’t think people really realize just how impactive the credit meltdown can be. And it will get MUCH worse in the next few years.
Remember “1929” was actually “1929 through 1933”. That is one of the reasons I have mixed emotions about Obama not winning this next election. I would really like a democrat in the White House while this nation (and the world) melts down.
My biggest concern, actually, is that the last one gave us that 1939-1945 nastiness. If this one get’s to that level, we really WILL be looking at events at the Biblical prophesy level.
But then, why should that be a concern? Things have to get worse before they get better.
bttt