July 17, 2008
This new rule for restrictions on short sales is ridiculous. If people want to short sell a stock, let them! This rule implies that the markets are totally inefficient, which we know is not the case-- the markets are efficient. If someone spreads a false rumor, the truth will come out and most investors are intelligent enough to discern.
Stop trying to save your friends at these banks-- and let them fail if they are insolvent, which a few of them seem to be.
Matt Huberty
Pittsburgh, PA