My Latest

Wednesday, April 15, 2009

Barney Frank’s Wall Street confidence game

Everytime Americans suffer, government needs a bad guy to blame. This week, it's the short seller's turn to be the villain. My Examiner column today explores just who is lobbying for restrictions on short selling--the investment tactic that enables one to profit when stocks go down.
Charles R. Schwab, founder of the firm, advocated regulation in a recent Wall Street Journal op-ed, “for the sake of our children and grandchildren,” but there’s a less lofty interpretation of Schwab’s motives. Schwab gets more customers when the stock market is rising, and so anything that can drag the market down is harmful.
Read the whole thing here.

No comments: