The European Union's designated financial services chief has pledged to examine curbs on short-selling and extend a planned regulatory shake-up to every corner of the industry, blamed by many for the economic crisis. Outlining his plans to push through a welter of rules that will tighten the policing of banks as well as curbing runaway borrowing, Michel Barnier said: "We need to turn the page on an era of irresponsibility." "We are going to reform. No market, no financial player ... should be able to escape. I will not shy away from the difficult subjects of sanctions and short-selling."
Outlining his plans to push through a welter of rules that will tighten the policing of banks as well as curbing runaway borrowing, Michel Barnier said: "We need to turn the page on an era of irresponsibility."
"We are going to reform. No market, no financial player ... should be able to escape. I will not shy away from the difficult subjects of sanctions and short-selling."
How about enforcing the rules, for a change? En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
And driving up equity asset prices should be a policy goal? En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
The problem they are having is that the small investor has undergone a change of psychology to fear from greed and are mostly sitting out this bogus rally. Without someone to buy up their hyped and levitated shares they just keep on keeping on---until they can't. But it will probably at least be highly impractical for small investors to short the market so as to profit on the puke. That is for the big boys.
At any rate that is my sense of things. Giethner, Bernanke and Obama are now the chief shills for Wall Street. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
