Friday, September 19, 2008

Just A Moment Of Self-Righteousness

From Yahoo!Finance and Reuters

Stock Futures Soar On Plans To Stabilize Markets

By Ellis Mnyandu

Stock futures soared on Friday, indicating Wall Street will add to its gains after the best day in six years, as investors cheered a series of sweeping steps by governments worldwide to contain the spiraling credit crisis...

Early Friday U.S. securities regulators joined regulators from other countries in temporarily banning short sales of financial shares...

"The ban on the short sales is what's having the immediate impact on the market. That should calm the market down," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.

Oh, wait a minute, so regulation is actually good for markets? De-regulated markets are actually potentially catastrophic to society at large?


Who'd a thought?

Alright, I'm done.


erin said...

A lesson that will be forgotten soon, I'm sure. Not that I'm a cynic, or anything.

Iva said...

One thing I just love about the good old USofA is that we never learn a thing. Deregulated oil? Wasn't that a smart move? So what do our geniuses in Washington do? Take regulations off buying and selling on the stock market...OY!

the hanged man said...

Best explanation I've seen is that we (the US) always privatizes rewards, but socializes risk.