the big picture
I like this blog.
I really like this line:
ITS A SHAME THERE ARE NO SHORTS WHO WOULD OTHERWISE BE COMING IN ABOUT NOW TO COVER. (HASN'T ANYONE AT THE SEC EVER WORKED ON A TRADING DESK?)
It does make you wonder. the idea of limiting a portion of the market is silly.
As I get older and I watch more terrible things happen I am developing a much better sense of why terrible things happen. Years ago I oversimplified this as the difference between representatives and senators, but it's obviously much more complicated. At issue is, in my mind, conservative vs. reactionary worldviews in times of perceived crisis. please don't read "conservative" and "reactionary" into those words above. I'm using them as adjectives, not nouns.
I was flummoxed when the SEC put restrictions on short sellers after a "report" was issued. Frankly I expected more from Cox, threats of firing by people who cannot fire him aside. In times of previously unseen volatility (or not, as the case may be) picking a victim is going to happen. politics is politics. but pick an actual victim, not a fundamental element of the market.
Picking on short selling is like picking on gravity instead people dropping rocks on people's heads. When did Cox suddenly get the idea that markets are only supposed to go up? He didn't. He knows better, so what gives? Populist appeasement moves in a time of crisis are about the worst things you can do.
Oh and Nancy, the blame for this is gonna fall on you. Having the wherewithall to recognize when not to allow a bill to be introduced is what a leader is expected to do. Fixing a broken bill to the point where a majority can support is how a leader demonstrates they've got chops.
I really like this line:
ITS A SHAME THERE ARE NO SHORTS WHO WOULD OTHERWISE BE COMING IN ABOUT NOW TO COVER. (HASN'T ANYONE AT THE SEC EVER WORKED ON A TRADING DESK?)
It does make you wonder. the idea of limiting a portion of the market is silly.
As I get older and I watch more terrible things happen I am developing a much better sense of why terrible things happen. Years ago I oversimplified this as the difference between representatives and senators, but it's obviously much more complicated. At issue is, in my mind, conservative vs. reactionary worldviews in times of perceived crisis. please don't read "conservative" and "reactionary" into those words above. I'm using them as adjectives, not nouns.
I was flummoxed when the SEC put restrictions on short sellers after a "report" was issued. Frankly I expected more from Cox, threats of firing by people who cannot fire him aside. In times of previously unseen volatility (or not, as the case may be) picking a victim is going to happen. politics is politics. but pick an actual victim, not a fundamental element of the market.
Picking on short selling is like picking on gravity instead people dropping rocks on people's heads. When did Cox suddenly get the idea that markets are only supposed to go up? He didn't. He knows better, so what gives? Populist appeasement moves in a time of crisis are about the worst things you can do.
Oh and Nancy, the blame for this is gonna fall on you. Having the wherewithall to recognize when not to allow a bill to be introduced is what a leader is expected to do. Fixing a broken bill to the point where a majority can support is how a leader demonstrates they've got chops.
posted by aram shumavon at 11:24 AM
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