Quote of the Day: Uptick Rule
Straight dope:
"To suggest that the removal of this rule is causing the markets to go down is to loudly announce 'I don't understand the credit crisis, and I am incapable of ever understanding it.'"
-Jim Bianco, WSJ
The article specifically mentioned Mario Gabelli, Martin J. Whitman, and Jim Cramer as opposing the elimination of the Uptick rule.
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Source:
Blame Game: The 'Uptick' Rule Debate
GREGORY ZUCKERMAN
WSJ, April 1, 2008
http://online.wsj.com/article/SB120701263355579045.html
Thursday, April 03, 2008 | 02:15 PM | Permalink
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Comments
To keep calling it a "credit crisis" demonstrates the same lack of a brain...
Uptick rule was removed to INCREASE volatility or plainly put allowing the common man to short any stocks whenever they want (wouldn't want something like a pesky rule to get in the way of free markets) so that they Fed can roast them at any point they see fit.
If you load them in the boat faster.....the faster you can sink it...
Ciao
MS
Posted by: michael schumacher | Apr 3, 2008 2:29:58 PM
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