The problem with our economy and our markets is not short selling. It is not liquidity. And it is not because of an awkward regulatory structure.
The problem is that the banks have engaged in an orgy of financial speculation, having undermined major sections of our regulations and institutions, aided and abetted by one of the most incompetent and corrupt presidential administrations in history, thereby exposing the public to significant financial risk with a reckless disregard for fiduciary responsibility.
Again and again the government was co-opted into overturning long standing safeguards to allow a small group of greedy men to bring our economy to the brink of ruin for their own personal power and wealth. Ex-SEC Official Blames Agency for Blow-Up of Broker-Dealers
The people are responsible for allowing themselves to be manipulated into a state of fear and ignorance.
