| | | I just don't get it. I think the argument slipped on the wrong ground. Big wall street firms play the market, speculate and do it while being leveraged. It's wrong... ok fine. But how is this an argument to let the small retail speculator do the same with his money? It's not like brokers or any institutions don't want them to have access to the market or even to speculate, but there's a way to do it while keeping our head. I personally don't feel like I don't have access to the market and that someone somewhere in his sky-high office don't want me to make money. In taking the side of the small speculator, many forget to warn against frenzy speculation.
I think the principle of freedom is made so importantly that we must allow follies to go on without doing anything. We teach bubbles of the past. How crazy people used to be to buy a tulip bulb for $750 000. Today, on the other hand, we must allow small speculators to push prices on round numbers without any logical justification: $100, then we push for $200, then $500, then $1 000, then $2 000.
I just don't really see how it is a victory against wall street more than a defeat concerning the ability of too many to act according to principles of rationality and prudence. Many are cheering while being on the same old speculative path that had lead us into troubles in the past.
Well... I'm young and probably naive. JMO
(sorry for my English)
liam |
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