CNBC -- critique. Message Board

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Pastimes : CNBC -- critique.

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To: Crystal ball who wrote (8918)	10/15/2001 10:53:09 PM
From: Michael Grosz	Read Replies (1) of 17683

"No one allows a deadbeat to come into a cadillac dealership and buy up all the cadillacs..." There are a couple of fallacies here (false analogy twice and strawman). First, very few deadbeats are allowed to short stocks. Second, if the "deadbeat" has established credit (hence is not a "deadbeat"), he/she can buy up as many cadillacs as the lendor sees fit. Thirdly, my ownership of the stock certificate does not decrease it's value (as in your used car analogy). You state that short selling is the antithesis to stable markets. To the contrary, I believe that short sellers ADD liquidity, and provide a more EXACT determination of actual share value. As for criminal prosecutions of gas stations for "gouging", I believe that anyone who paid $5/gallon (as some did in my area) got what they paid $5 for: a gallon of gas. Why don't we prosecute folks who sell ice cream at airports for $5.00/cone? Or beer for $7.00/glass? Or kids who sell lemonade for $0.50 rather than the traditional $0.25? Aren't they committing the same "crime"? Anyway, thanks for responding and relieving me from the tedious "Jews are right; No, Arabs are right" debate.

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