Welcome to the new chapter in the disaster known as the Reagan/Bush/McCain wild west, anything goes economics. The politburo is on to legislating more growth and prosperity by banning short selling of stocks for another 90 companies on top of the 799 already banned last week.
Read after the break for some truly astonishing names:
Among the biggest names in this round of plugging the holes in the hull of HM Wall Streetanic we welcome the following to the 'no sell' list:
- GE
- GM
- American Express
- Legg Mason
- Capital One
Huffington post has the newsbrief
I'm hereby suggesting a more prudent approach from this point forward. Instead of making lists of thousands of companies let's just establish this simple rule:
From now on by the power of this royal decree of King George it is illegal to sell any stock, bond, currency or any other equity for less money than it was purchased for!
Voila. Endless growth and prosperity in one fell swoop. Am I good or what?