Posted on 09/18/2008 8:20:51 PM PDT by balls
The damage being done to stocks through short selling, where Wall Street’s most legendary institutions are losing value at alarming rates, could be the work of financial terrorism.
Cramer’s been talking to the short sellers he knows, and that’s the theory they’ve been putting forward. His sources said that it’s doubtful that the market’s traditional short sellers are behind the negative action we’ve seen lately. So there is the possibility that someone else has been trying to wreak havoc in the markets rather than just profit from the problems of Goldman Sachs [GS 108.00 -6.50 (-5.68%) ], Morgan Stanley [MS 22.55 0.80 (+3.68%) ] and others.
(Excerpt) Read more at cnbc.com ...
When there's no uptick, it's much easier to pile on and drive a stock down.
You can make a lot of money shorting a stock. You can make money in a downturn, not just an "up" market.
There's nothing wrong with shorting a stock per se within reason. But this week you had people driving bad news abusively in order to short and make money on a stock's demise.
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.
The problem is this week there is/was a concerted effort to drop it down into the 8000’s!
/////////////
Even if TODAY we dropped back down to 7,800 we would still be 6000 points HIGHER than we were in 1988. (In 1988 the DOW finally broke the 2000 barrier)
We’d be 4000 points higher than we were in 1994.
We’d be right were we were in 2003.
Losing 5 years is bad but not the end of the world IMO.
maybe
The real problem is that tens of millions of people have made lots of money gambling in this (stock market) Casino, they lost it, took out loans with loan sharks, can’t pay up and ....and....
AND WANT DECENT FOLK TO BAIL THEM OUT OF THE BEATING THEY’RE GONNA GET!
tough love
Now them Russian boys THEY got problems. But you know, I bet the Georgians will be willing to loan ‘em something.
Semper Fi
These decent folk are the very ones who would suffer tremendously if the DOW took a drop to 8,000 in a matter of days without recovering.
Banks would fail, unemployment would rise, the defiicit would grow even higher, economic hopelessness would prevail, and the hope of recovery would be far in the future.
We don't want to go there.
Ok well we shall see. Sure be nice seeing SOMEBODY responsible for this go to jail instead of getting bailed out. It seems to me the only ones having to pay are the taxpayers in general.
Have a good night thanks for the comms.
Good night to you too.
bttt
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