Friday, September 19, 2008

sec bans short sells temporarily

sec said:

“temporary emergency action”

“protect the integrity and quality of the securities market and strengthen investor confidence.”

stupid cox said:

“The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets...”

“The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets.”

attorney general said (re short sellers):

“They are like looters after a hurricane...”

“If you pass a rumor in a normal marketplace, people are calm, they check it out, they do their due diligence. When you get the market in this frenzied state and they are on pins and needles, any false information is much more impactful.”

john mccain said:

(re sec)

“kept in place trading rules that let speculators and hedge funds turn our markets into a casino”

(re cox)

“betrayed the public’s trust.”

“If I were president today, I would fire him.”

[no shit mccain! thank you very much for stating the obvious.]

cox said:

“Now is not the time for those of us in the trenches to be distracted by the ebb and flow of the current election campaign...”

[okay, now i'm rolling my eyes.]

"It is precisely the wrong moment for a change in leadership that inevitably would disrupt the work of the S.E.C. at just the wrong time.”

[fuck off]

sorry, i have nothing more intelligent to say than that. have a wonderful day in the market today. :P

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