July 21, 2008
Since when is naked short selling legal? Why are you allowing this practice to continue? Who do you guys think you are fooling with this favoritism towards bank stocks?
I realize you are trying to save us all from an impending financial collapse, and applaud your efforts, but you are the guys who got us into this mess in the first place. You pumped cheap money and credit into the system after 9-11 and we all know why. You can't sell a war for oil if the economy is in the crapper...which is where it was and should have remained in order to heal the economy from that ridiculous tech bubble.
Do any of you guys have degrees in economics? Don't any of you know what the meaning of "inflation" is? Have you ever played the game of Monopoly? Play it sometime and then tell me how everyone left in the game near the end can afford to put Hotels on Park Avenue. Is that the result of speculators? Greedy manufacturers? No. It the result of THE BANK GIVING YOU CHEAP (free) MONEY every time you pass go.
So go ahead and bestow your gracious favors upon the guys who took my bank deposits, leveraged it up to 50 to 1, and then gambled it all and lost it. And by all means continue to look the other way when naked short selling threatens to destroy good companies...like those that actually produce something...like mining stocks...like companies exploring the globe for new raw materials...like those hated GOLD STOCKS. Your Achilles Heal.
We all know you HATE gold. Barbarous relic my foot. It will be the only asset left standing (along with silver) when you guys get done with your shenanigans.
You can take THAT to the bank. Whichever one is left standing when the smoke clears.
Good luck to us all.