To the group of dedicated ultra-conservatives who continually bash liberals for being "socialists" who want to "eliminate economic freedom" and who therefore support the election of Republicans to office: it is over.
In recent weeks, it is has been Republicans who have been most guilty of "big government". It would be difficult for a Democrat to throw money around as carelessly as Republican-appointed officials have in recent days. They would be lambasted on talk radio and television talk shows. And, might I add as an independent, rightly so.
When liberals want to spend money to bail out poor people who have made bad choices, they are accused of being socialists. When conservatives spend money and risk even more money of the American taxpayer to bail out rich people who have made bad choices, they are praised for saving American capitalism. For those who think I am guilty of hyperbole, see Donald Luskin's articles on FRE and FNM.
By banning short selling (even on a temporary basis), the line has been crossed. Now the government is giving the message that it is we big bad traders who short stocks that are the problem, so now we must take away your freedom to use your capital as you like. I don't short stocks (rather buy puts) and am long a bunch of IAI, so I should be doing cartwheels counting my profits. But I am not.
This is not a matter of making money. It is a matter of principle. I'd rather have paid the price of mild government regulation than endure the obstrusiveness in recent weeks.
In recent weeks, it is has been Republicans who have been most guilty of "big government". It would be difficult for a Democrat to throw money around as carelessly as Republican-appointed officials have in recent days. They would be lambasted on talk radio and television talk shows. And, might I add as an independent, rightly so.
When liberals want to spend money to bail out poor people who have made bad choices, they are accused of being socialists. When conservatives spend money and risk even more money of the American taxpayer to bail out rich people who have made bad choices, they are praised for saving American capitalism. For those who think I am guilty of hyperbole, see Donald Luskin's articles on FRE and FNM.
By banning short selling (even on a temporary basis), the line has been crossed. Now the government is giving the message that it is we big bad traders who short stocks that are the problem, so now we must take away your freedom to use your capital as you like. I don't short stocks (rather buy puts) and am long a bunch of IAI, so I should be doing cartwheels counting my profits. But I am not.
This is not a matter of making money. It is a matter of principle. I'd rather have paid the price of mild government regulation than endure the obstrusiveness in recent weeks.
