This morning’s Ahead of the Tape column in the WSJ discusses the absurdity of targeting short-sellers during downturns.
"Some free markets are apparently freer than others: The price of oil is free to fall, while the stock price of a bank is free to rise.
That is one takeaway from Washington’s recent response to market turmoil. By singling out "speculators" who want to push bank stocks down and oil prices up, lawmakers and policy makers reinforce a message that the free market is a wonderful thing as long as it isn’t going against you.
It is a potentially slippery slope."
Apparently, Free markets means free to go up only . . .
Easy Targets: In Defense Of Speculators
WSJ, July 17, 2008; Page C1
Unveiling his plans to save the lenders, with William Ackman, Pershing Square Capital Management managing partner
"This is a conservatorship, which is a good thing, because you can accomplish it more efficiently," Ackman said.
Ackman: A Plan to Save Fannie & Freddie
CNBC.com | 15 Jul 2008 | 10:30 AM
I did three segments Tuesday on Yahoo Tech Ticker at the Nasdaq:
Here is the first, on closing shorts and getting a bounce:
Click for video
We ran out of time, but I was going to discuss the infrastructure plays also . . .
Wild Times on Wall Street: What Now for Investors?
Yahoo Tech Ticker, Jul 15, 2008 07:00am EDT