BubbleVision Flash:
Cramer on CNBC just said that the rapid downslide of stocks like Bear and now the Fannies is not only due to the repeal of the uptick rule, but also (and more) due to the fact that (paraphrased) "the brokers don't bother anymore to call to see if they can borrow the stock, and the SEC doesn't care." That is, Cramer confirmed on-air the out-of-control naked shorting by the big funds and brokers. "They just go ahead and take down the stock."
My comment, I'm shocked, I tell you, SHOCKED, to hear that gambling is going on in this, the most honest and transparent financial market on Earth! Yup, as noted by another poster, Da Boyz short the crap out of an equity, making money all the way down to zero, and then buy the BK pieces at fire sale prices. Oh, and buy protection from the Gubmint. Wotta racket. Speaking of which, imagine that the RICO laws were enforced here. The mind boggles.
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