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 of “short-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.