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Today Is International Talk Like a Pirate Day!
lucabrasi999 writes "Ahoy! Drink up the Grog, me hearties! Today is International Talk Like a Pirate Day! Grab yer wenches and stop being a bilge-rat." Cap'n Slappy and Ol' Chumbucket have even provided a short YouTube video to help those who might be a bit more pirate-speak challenged. Even Google is getting in on the action, those swarthy dogs.
I have no problem with prosecuing the naked short selling rules. What's at issue is that shorting shares ( naked or otherwise ) has been banned on all financials.
What's incredible is that companies like Sears, Netflix, Capstone have been crying foul for years and wall st laughed and kept shorting them blind while the SEC looked the other way. Here is an example. The rule was never enforced. Today wall st is in the crosshairs and everyone is running around trying to prevent short sales.
These markets are not orderly. An entrenched well-connected few are pulling every string in sight to protect their interests and we all are going to end up footing the bill when the piper comes calling.
Bittorrent, Kazaa, Gnutella, Usenet, ...
Palm trees and 8
Not just that, shares you didn't borrow or even steal.
:).
:). Slap a big fat AAA on them or something
Talk about imaginary property
Anyway, it's funny they've only just prevented you from selling shares you don't own, when they:
1) Let people buy houses with practically no money at all - giving them big loans
2) Treat those loans as assets
3) Lend or borrow more money based on those assets.
4) Repeat and rinse.
5) Wait till the music stops, ask for Gov to bail you out with taxpayer money, say "Everyone was doing it" aka "Industry standard practice" and collect your big fat golden parachute.
I'm sure I missed some steps somewhere, but I think I'm not that far wrong given the way the market has blown up.
To me if private industry is going to get bailed out by public money so often, they should be better regulated and maybe profits more than a certain amount should be siphoned off by the government to a bail out fund.
It's not fair that they get to keep all the money during the good times, and during the bad times even people not involved have to bail them out.
Avast! There be too many pirates around these days.
They should be walking the plank.
Seriously? McDonalds? People actually eat that crap?
Avast ye! It's talk like a pirate day. So while discussing it is acceptable, really acting like a pirate is extraneous.
"There can be little doubt that union activities lead to continuous and progressive inflation." F. A. Hayek