Where was the government agencies when wall street and financials was bankrolling trillions in subprime and alt-a toxic waste? Where was the government yelling for oversight when companies like countrywide, new century, and indymac were dumping all thier billions in toxic waste loans on Freddie Mac, Fannie Mae, Pension funds, and anyone else they could toss the green glowing potato too?
Now they try to scapegoat short sellers AFTER the ponzi scheme finally collapsed.
The short sellers didn’t cause this collapse in financials. They are only profiting off of what had been set in motion for years previously. You could see this coming from a mile away. Its no different than if you were shorting dot com stocks in 2000.
And one more thing Mr. Cox. Good luck with enforcing naked short selling rules. The majority of it is done in foreign countries like Germany and their governments couldn’t give a rip if they naked short our country into extinction. Hedgefund managers laugh at this crap as they naked short away. I’m laughing. What a total joke.
The investment banks are also bankrolling the naked shorting selling, the hedge dudes borrow huge sums to trade...