Tuesday, July 15, 2008

Unfathomable........

Mr. Cox at the SEC is putting on a cowboy hat to promote the wild and wooly Wall Street crowd to be reined in for 30 days in the area of short selling. This whole bail-out travesty is nothing but Paulson/Bernanke and their cronies on the Street taking care of their pals at taxpayer expense.

Their are no safeguards for the taxpayer. These 11th hour bailouts of Bear and Freddie and Fannie and IndyMac are all reactionary moves. Nobody is out in front of this horrorific mess.

Again, such inept regulation. Nobody in jail, nobody being investigated and last but not least, these clowns wanting to go after some old-fashioned rumor mongering on Wall Street. That is how the free markets work. If these companies wouldn't be in so much trouble for being so dam STUPID ie. being levered say 30 to 1 and having such little risk control on trading desks and in proprietary hedge funds those share prices would recover from short selling. And the banks taking every loan application from somebody with a job and a heart beat and fudging the numbers to make the ratio's work and quickly unloading the crap off on the Fannie and Freddie monster. May Mr. Raines someday get his due.

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