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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (5767)	3/6/2009 10:33:37 PM
From: Brumar89	Read Replies (1) \| Respond to of 86350

Re-instate the uptick rule in order to force the shorts to be more cautious about their bear raid activities. Agree. GE, one of six companies with a AAA credit rating by both S&P & Moodys, is being targeted by shortsellers trying to drive it below $5 where some institutions would have to sell and that would push it down ever farther. Crazy.

To: Hawkmoon who wrote (5767)	3/7/2009 6:20:09 AM
From: Road Walker	Read Replies (1) \| Respond to of 86350

I agree with most of your points. A few are in process (mark to market for instance). But you are wrong when you say they can be done tomorrow.... this stuff takes time and you have to do it right or you can create more problems than you solve. The underlying problem is the descent of asset prices. Without that, the banks would be just fine. But as long as the 'collateral' is decreasing in value, it's a rational decision NOT to lend money backed by collateral assets. So how do you get assets to stabilize? Demand has to increase to meet supply. You don't get there when the economy is peeling off 600K+ jobs a month. That is decreasing demand and that's what is putting us in the death spiral. It's mostly if not all about jobs. But thanks for the thoughtful note (that wasn't full of the partisan animus you usually get on this thread).