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They just banned short selling in US
- Thread starter nitro
- Start date
Short selling is banned and insurers are still tanking. This nullifies the theory that aggressive short selling is the only reason that insurers and banks are failing. I can think of a couple of DEMOCRAT US SENATORS who have destroyed companies with their comments.
Harry Reid (Democrat)
Charles Schumer (Democrat)
Do Democrats want everybody to be poor and broke? Reid should be investigated to see if he told a bunch of his buddies to short insurance companies.
Harry Reid (Democrat)
Charles Schumer (Democrat)
Do Democrats want everybody to be poor and broke? Reid should be investigated to see if he told a bunch of his buddies to short insurance companies.
Quote from Angrycat:
Well, we should all be very thankful that the Ministry of Price control extended the short ban restriction or the market may have gone down today.
Incidentally, as there are no barriers to entry to this little list, 20% of U.S. stocks are now on it.
Look IBM, my theory is that people didnt realize they have a big financing compnent to there business and when they saw that they headed for the exits.
There investor relations went out of there way to tell everyone they where a finance stock
Quote from KeithOmalley:
Look IBM, my theory is that people didnt realize they have a big financing compnent to there business and when they saw that they headed for the exits.
There investor relations went out of there way to tell everyone they where a finance stock
Zales Jewelry & CVS are finance stocks? Gimme a break
Quote from KeithOmalley:
yes they are. both times when i went there i can confirm i saw at least 1 cash register
LOL! Holy shit, that's true. Besides, think of the systemic risk if Zales goes down. Where would mall rats buy their diamond chips in solitaire settings? If CVS goes bankrupt we'd have to shop for shampoo at Walmart, the grocery store, Kerr Drugs, Rite Aid, Duane Reade, or the local bodega. It would be Armageddon.
Quote from nitro:
Angrycat,
I have no problem with any particular security (ies) going to zero, unless allowing it would cause a domino effect that can have catastrophic ramifications on the entire system. I believe this is one of those times.
nitro
But any particular security will go to zero regardless of whether it is shorted to high heaven or not a single share is sold short.
Quote from flytiger:
Isn't it interesting CNBC ignored this story.
Maybe now, that the SEC and Buffett saved GE's ass, we'll go back to the "Einhorn to Ackman to Chanos" double play combination, so prevelant until two weeks ago.
Great scam while it lasted. Now. Let's see if they get to spend the money. There's a lot of pissed off folks i flyover land.
But the shorts were right all along - Lehman was insolvent, the shares were worthless. You and others trying to deny that fact and stifle criticism were guilty of a gigantic fraud perpetrated on every uninformed sucker who bought and held the stock all the way down.
If you had any shame or conscience you would be apologizing to any bagholder in Lehman and other busted financials for helping to lose them money.
this was a very smart move by cox. hopefullythe bears will no longer be blamed for downward movements.Quote from nitro:
It has been extended until the plan gets voted in, or Oct 17.
http://www.sec.gov/news/press/2008/2008-235.htm
nitro