The stupidity of people that make our laws and run our country (and corporations) amazes me.
"Members of Congress, T. Rowe Price Group Inc. and the head of NYSE Euronext blame the Securities and Exchange Commission’s 2007 decision to eliminate the regulation for contributing to the worst year for stocks since 1937. New York-based Morgan Stanley, Citigroup Inc. and Lehman Brothers Holdings Inc. blamed short sellers, who profit from declining stock prices, for spreading rumors that drove their shares to their lowest this decade."
No, that is absolutely false. Greed, corporate executives willing to take any risk (legal or illegal) to make money, and poorly run companies are to blame for the worst year for stocks since 1937.
I do not understand why news organizations - and I use the term "news organizations" loosely - continue to let these people deflect the blame from themselves to short-sellers.
Uptick Rule May Fail to Lift Stocks, Curb Volatility
edit - Mark Cuban agrees with me...
A Simple Mistake Traders Make
7 hours ago