Posted on 09/18/2008 8:20:51 PM PDT by balls
The damage being done to stocks through short selling, where Wall Street’s most legendary institutions are losing value at alarming rates, could be the work of financial terrorism.
Cramer’s been talking to the short sellers he knows, and that’s the theory they’ve been putting forward. His sources said that it’s doubtful that the market’s traditional short sellers are behind the negative action we’ve seen lately. So there is the possibility that someone else has been trying to wreak havoc in the markets rather than just profit from the problems of Goldman Sachs [GS 108.00 -6.50 (-5.68%) ], Morgan Stanley [MS 22.55 0.80 (+3.68%) ] and others.
(Excerpt) Read more at cnbc.com ...
Is this the kind of thing Soros could do?
Obama backer Soros?
I think it could be terrorism.
Or - at least opportunistic terrorism, i.e., they already saw a problem, but decided to accentuate it.
I think it could be terrorism.
Or - at least opportunistic terrorism, i.e., they already saw a problem, but decided to accentuate it.
I was thinking the same (but more related to the election) and posted a thread on this yesterday.
http://www.freerepublic.com/focus/f-bloggers/2084505/posts
Well, if true and they're not in it for profit, the old rules won't work either.
Ban short selling by foreigners?
Instead of dumping, move to under priced investments. Do people realize how cheap MSFT and other stocks are right now? Microsoft, for example, has more raw cash on hand than outstanding share value.. Remember the Jack Welch philosophy- when people panic, buy. When people are greedy, sell..
I sell short. I don’t like it but with volatility the way it is, my investors depend on it. We are up this month and this week as a result. We maintain a 50/50 long short position and use SPYDERS to fill in the void. We don’t speculate by driving down shorts on news. We short poorly performing stocks that are temporarily over valued. Greenspan said Sunday that short sellers are necessary in normal conditions to maintain a realistically priced market. The problem we have now, and why there are so many bubbles are that hedge fund managers are so desperate for a quick score so they can make their hurdles and get huge payouts that they are running from new idea to new idea and piling on. The guys driving down the financial stocks are the same ones who brought you $147 oil two months ago. It’s a need for performance and a lack of proprietary ideas.
The problem is not shorting, but ineffective enforcement of existing rules against naked shorting.
We should resist calls to put bandaids on the problem. The uptick rule qualifies as a bandaid.
...to protect themselves from a meltdown they knew was coming?
I would bet its the work of GEORGE SOROS.
It would not be the first time he has minipulted a country’s money system. He is cancer.
How can foreigners be prevented from trading? Punishment after the fact won’t work for many reasons.
Gee, I certainly hope the trail doesn’t lead back to our pals the Saudis.
McCain is right that Chris Cox should go.
He seemed like a decent guy, but as head of the SEC he has been an incompetent.
He abolished the downtick rule for short trading at the worst possible time, and he has failed to punish those who are behind massive “naked shorting,” which is illegal.
Now he has apparently agreed to “temporarily” end all shorting. That will be a disaster.
As I said, I don’t have any idea WHY he has done all this, but he really needs to be replaced for his stupid handling of this crisis.
I would bet its the work of GEORGE SOROS.
It would not be the first time he has minipulted a country’s money system. He is cancer.
Soros
Gee, I certainly hope the trail doesn’t lead back to our pals the Saudis.
The alarming thing of this is that even if is not the work of Soros, or anyone else who would like to take us out, it could have been! We need to look at this from a national securtity standpoint.
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