May 11, 2009
At what point do you lazy politicans/bureaucrats reinstate the uptick rule? When legitimate companies like Wells Fargo, Goldman Sachs, Morgan Stanley etc. are out of business just because a few "Americans" drove their respective stocks to 0 because they could. The real terrorist in this country are the economic terrorist that undermine our financial system and that is our financial regulatory system.
The SEC and NASD give men and women the ability to destroy good companies because they can with no recourse to them. YOU give men and women the ability to destroy the economic fabric of our society (government aid to financial companies to restore their capital base) by giving them the tools to destroy public companies for pure profit for them. This profit is not shared with the public or the government it is merely pocketed by the destroyers. All this because of an academic exercise performed by academics that was responsible for eliminating the rule in the first place. Not real life events but an academic exercise for this we have free reign to destroy good companies.
This whole subject sickens me at times to be an American as I sit and watch this bad show play out. If the general public only knew but then that's what you lazy guys like, they don't know so you don't have to do the hard work that makes sense. By the way, if you think reinstating the uptick rule the way it was structured in the past is the solution then my comment "lazy" still applies.