Belmont Club

By Richard Fernandez

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The Library of Babel

August 18, 2008 - 5:53 pm - by Richard Fernandez
buddy larsen
2008-08-19 14:31:20

stray thought –the phalanxes of government agents double-checking the sarbox double checking of the comptroller’s double checking of accounting’s double checking of some guy’s expense account –could they not have been better employed enforcing the law against naked shorting that since this mess began has amounted to a free ability of shorts to hammer down a stock without even owning any claim on a single share of it? this has cost hundreds of billionsa of value –people’s hard-earned money –and has driven thousands and thousands of small individual investors right out of the market. but who can bother with reality when they have to worship the cloud-cuckoo in cloud-cukoo land?