October 9, 2008
What's wrong with you people? The lifting of the short sale restrictions and the Market dive today are no coincidence. I don't buy Wall Streets and the SEC's contention that shorting (including naked short selling) are required for a healthy equities market. I also believe that the largely unregulated activity of hedge funds make the manipulation of individual stocks and markets far too easy. We've seen what excessive greed can do to what used to be "blue chip" investment companies.
Do you people really believe that things will change without meaningful oversight and intervention? Short-term, temporary fixes are clearly not enough to stabilize our shaky markets. Investors need to be convinced that the SEC is doing its job before confidence can be restored. Sadly, this doesn't appear to be the case.