Prohibit “short selling” of stock…

And they get away with it…

            

By Jack E. Lohman

Now, that is a dirty word: Regulation. But it must be. America’s economy is now at the mercy of our politicians’ willingness to restore our regulated free market. We’ve tried the free-for-all market and deregulation, and it didn’t work. Conservatism failed.

But where to start?

Let’s make illegal the process ofshort-selling stock!”  That’s when an investor — one that doesn’t have a job actually producing product useful to society — sets himself up to make money manipulating the stock market. They don’t invest capital in a company to help it grow and be prosperous and add jobs to the community. They instead borrow its stock from another market leech in the hopes that it will go down in value! It’s a bet they are making with each other. If it goes down, the lender owes the short seller the difference; if it instead goes up, the short seller owes the lender the difference.

Problem is, the short seller is then encouraged to spread false rumors that the company is in trouble, even if it is not, so the stock value goes down and he makes money. And oh, he takes it from your IRA plans too.

This is what conservatives would call our “free market,” though in fact it is manipulating the market, a subtle violation of federal law and a severe intrusion on your family’s nest egg.

But our politicians have been paid dearly by those making all the bucks, to not tighten the law! So they haven’t.

Tidbits:

  • The Republicans want to give tax cuts to businesses. Great. How about a $6000 per employee per year savings in health care costs? They can simply pass HR676 Medicare-for-all by US Rep John Conyers.
  • Our favorite right-wing wacko, Rush Limbaugh, publicly stated that he hopes Obama fails! Get that? Our nation is on the ropes and this drug addict hopes America goes down the tubes. If the GOP is going to survive, they had best get rid of this goofball.
  • And no, it wasn’t all the money Obama raised that got him elected. It was George Bush.
  • I must say, though I voted for McCain, Obama’s inauguration sent a powerful message. Not so much to blacks, but to the rest of the world as to just how great democracy and peaceful transition can be. Good for us.
  • I absolutely support the employee’s right to organize, though I think the UAW has been too successful. But I do not support the current effort to eliminate secret votes. Those are essential, especially in America.
  • The Guantanamo detainees should not be released until their home country (or any other country) agrees to take them. But they should not be subjected to US freedoms 🙂 )
  • Comments are closed.

    %d bloggers like this: