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To: Keith Feral who wrote (64892)9/20/2008 5:05:39 PM
From: Norrin RaddRespond to of 118717
 
I think part of the problem with the short selling is that irrespective of true value, people were afraid to take the other side of the trades. Dale keeps saying that the price action has been divorced from true value and he is right!

Are you and I going to put our money up against a huge hedge fund going in the opposite direction - especially when NAKED short selling is a fact of the times? No way! We will stand back until the smoke clears. But the problem is that when the smoke clears; the company is dead, the shareholders are dead, and everyone lost their jobs. All to make a handful of people VERY rich. We need to find a way to even the playing field.

So, I have read a lot of discussion about leaving the markets alone but it doesn't work as a free market when a few hedge funds who control 2 Trillion dollars can literally attack and kill ANY company irrespective of size. Their excuse that the company attacked "must be weak and hence deserves to die" is in many cases lately a bald-faced lie from those who want a $100 million/year personal compensation. This is BS and it needs to be stopped!

And we need the uptick rule back in place immediately!!!