Our government’s attempts to instill confidence in markets has been extremely misguided and has largely been targeted at punishing short sellers and speculators and providing bailout after bailout. Unfortunately, the real reasons for the systemic problems we are facing in the economy, credit markets, commodities, derivatives, currencies, equities, etc. were not created by short sellers or speculators. Regulators not regulating, failed monetary and fiscal policy and greedy capitalists created this problem. Providing another bailout for Fannie and Freddie is just more of the same. Squeezing shorts and creating a spike in equities for the benefit of bulls is just more of the same. We’ve done this repeatedly since July 2007. We will keep doing it.
© Mike for HedgeFolios.com , 2008. |
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