Saturday, September 20, 2008

INGRATES & WHINERS ...

The idiots on Wall Street who brought us this financial mess are complaining because they now have to abide by new rules ...

The NY Times is reporting that market players are upset that new SEC rules are preventing them from making bets that the price of certain stocks will fall. When market players do this they like to say they are selling "short." These guys also like to call themselves "investors." Both caricatures are wrong. These people are gamblers making bets that a market is going to tank.

These guys belong in Vegas, not on Wall Street. Then we have the chutzpah.

Can you imagine ... The government takes taxpayer money and dumps it into the market in order to save it. Then government regulators put new rules in place so the same idiots who helped run things into the ground can't go out and do it all over again. And they're complaining?

So who are the biggest ingrates and whiners? You guessed it, the hedge fund guys ... the people who made the most over the past 10 years.

Hedge fund managers who made vast profits betting against the nation’s financial titans called the ban unfair, and said the move would only prolong the financial crisis.
Here's another good one.

Many players warned that the government’s sweeping actions might have unintended consequences. The ban on short selling raised questions about how certain parts of the capital markets would function.
One can only wonder where these guys get the strength to go on ... Seriously, what a bunch of ingrates and whiners.

- Mark

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