I applaud the SEC's courageous move to ban short selling. Isn't that brilliant? I wonder why they didn't think of that during the Great Depression.
However, I feel that this valiant effort does not go far enough.
All selling of stocks should be banned. Once you buy a stock, you have to hold it forever.
Sure, this might make the market a little less liquid. But once stock prices can only go up, we'll all be rich!
Or maybe we should just try something simpler: pass a law making it illegal for stock prices to go down.
1930 editorial on short selling, sounding eerily similar to today, but, unfortunately, ultimately smarter. Hat tip to Brian Murphy (and, one just noted, the immediately preceeding comment).
I applaud the SEC's courageous move to ban short selling. Isn't that brilliant? I wonder why they didn't think of that during the Great Depression.
However, I feel that this valiant effort does not go far enough.
All selling of stocks should be banned. Once you buy a stock, you have to hold it forever.
Sure, this might make the market a little less liquid. But once stock prices can only go up, we'll all be rich!
Or maybe we should just try something simpler: pass a law making it illegal for stock prices to go down.