The SEC Has Lost All Credibility

Price action was pretty bearish today, it looked like a bit of profit taking with no bounce.

Without the shorts I expect the next decline for the financials to be even more ferocious.

IMO reg will be gone once FRE, FNM get recapitalised....
 
Quote from ChkitOut:

That was the CFTC.

The've caved into the pressure from washington to "find something"



Actually, I think this may have been a smart move on the cftc's part.


I think they were trying to send a message to congress to fuck off. They are showing that the only manipulation found from all that hard work they did investigating was some rinky dink outfit that was trying to screw around with the close, profited a cool mill, and had no effect on long term prices. They even tried to manipulate the price DOWN. Laughable.
More...


You're absolutely correct. My bad. It was the CFTC.
 
Quote from womblevader:

Price action was pretty bearish today, it looked like a bit of profit taking with no bounce.

Without the shorts I expect the next decline for the financials to be even more ferocious.

IMO reg will be gone once FRE, FNM get recapitalised....
More...
Excelent point... shorts take profits during the panic... making the market bounce a little on the way down... without the shorts it's just plain freefall...
 
Well now....


Today's another day.....

and it looks like the great intellect of the SEC's best is shining through regarding the temp SS restraints....


201pm


wb -9.05%
rf -8.86%
fre -6.01%
fnm -4.49%

and more

leh -6.53%
mer -5.44%
zion -4.05%
bac -3.95%



You know ....The SEC policy seems to be working if
their goal is to get the stocks close to $0 in a few days....

Or was that their goal?
 
Quote from libertad:

Well now....


Today's another day.....

and it looks like the great intellect of the SEC's best is shining through regarding the temp SS restraints....


201pm


wb -9.05%
rf -8.86%
fre -6.01%
fnm -4.49%

and more

leh -6.53%
mer -5.44%
zion -4.05%
bac -3.95%



You know ....The SEC policy seems to be working if
their goal is to get the stocks close to $0 in a few days....

Or was that their goal?
More...
How about you go back to Friday afternoon, and recalculate fro the lows? Or don't you care if your analysis is even handed.
 
Don't forget the FDA!

Quote from libertad:

Wow....the short sale restrictions worked like a charm today ...did they not?

The worst one day decline in financials in 8 years.....today.....with the emergency provisions in place.


Secondly, the SEC wants to increase regulations.....after the calamity has ocurred.....what good are regulations now?

There are two organizations whose time has come to be completely eliminated....

SEC
IRS

Others to go soon....USDA....and many many more.


What a joke !!!!!!! Forever FO !!!!!!!!
More...
 
And be sure to keep in mind how well the SEC/CFTC is doing at keeping non-accredited investors out of hedge funds - even though they are sophisticated enough to understand the risk but aren't loaded - and turning them toward much safer investments like F, GM, FRE, FNM, CROX. Oh yes, we cannot forget CROX! I sure don't follow the guy but I'm gonna guess Cramer pumped that one, yes?
 
Well now....it's Monday at 153pm....

And wouldn't you know the SEC Short Sale Plan is working like a charm....

Just a few more days for a lot of these protected companies to go to $0 at this rate....

Here is today's action....

STOCK %
MER -8.68
LEH -5.28
C -5.15
MS -3.68
RL -3.06
BAC -2.77
BK -2.64
ZION -2.11


Idiocy at its best !!!!!!!

Aren't you glad the SEC is there to protect you ?
It is called " STOCK MARKET KATRINA ".....
 
On my way to appraise some more REO's this morning :D I heard on the radio that they may extend the short sale rules to insurers and "building stocks". I ssume they mean bond insurers and home builders.

This is beginning to take on the air of a dark comedy. :D
 
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