February 20, 2009
In my opinion, until Washington takes ALL necessary steps to clean up our markets
settle all trades
regulate hedge funds
Clean up the DTCC, SEC etc...
Impose HARSH penalties on any journalist who colludes with
There is NO reason to buy a single share of stock in our markets. It is "stupid" to even begin to talk about fundamentals when the very nature of the markets are so corrupted by the casino owners that you have almost no chance of winning. Having said that -yes there will be the occasional good performing stock trotted out, just like we always read about the laundry folder that won a lottery ticket. It's only used to convince more suckers to play the game.
CNBC should be ashamed of itself for trying to convince even one American to buy shares in these markets without FIRST taking on the issues of making them fair....there should be a boycott of these markets until Washington does EVERYTHING needed to purge the rot...
And my bet is
They won't - they are all too compromised...
Unless the people who perped this can figure out a way to make money on cleaning it up - it won't happen.