http://www.nytimes.com/2009/04/07/business/07sorkin.html?_r=1
I was speechless the first time I read this. The second time my only thoughts where maybe we need a recourse against Shelia Bair. Like she goes to jail if this fails.
It is appalling what is going down.
Tuesday, April 7, 2009
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3 comments:
Sheila Bair has been trying to overstep her boundaries for a while -- looks like she has succeeded. I remember last year she was dispensing advice on how to prop up still unfordable housing prices and I was very disappointed that the FDIC was trying to influence the real estate market. There is certainly a solution vacuum in the Beltway and she has stepped in and sold a confident plan. Of course, confidence can be a product of being knowledgeable and prepared or just a symptom of naivety and delusion.
Robert -- The SEC meets tomorrow and will certainly reveal new short-selling restriction proposals including the uptick rule. The SEC is under heavy polical pressure to quickly enact short-selling curbs. I bet this will give the market a short term bounce. What do you think?
Too little to late on the uptick rule. I would say the market is much more focused on the start if Earnings Season. I will especial be interested to see how Alcoa is faring.
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