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Financial Terrorism or Financial Espionage? Short Selling
Apparently, by September 19, 2008, those in the know say it wasn't US hedge funds "piling on" financial stocks with short selling, but overseas investors.
It seems a large amount of it was coming from London and Dubai?
So to Seashell and others who doubted, let's wait and see what turns up.
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Comments (3)
Mike, those in the know don't include Jim Cramer.
And just to make it clear, I never said that short sellers were the problem, either. I did say that US hedge funds were probably the short sellers at that time, and I still think so. The investment banks, esp Bear Stearns, Merril, JP Morgan, etc were the ones complaining about short sellers, but they were not accusing anyone of the type of financial terrorism that you are referring to.
Once again, short selling only hurts those whose fundamentals were not sound in the first place.
October 9, 2008 7:59 PM | Reply | Permalink
Seashell, it is you who are not in the know.
Go back and read The Big Picture link and research from there. Cramer wasn't the original source. It was Joe Besecker of Emerald Asset Management and Cramer reportedly picked up his observation and put it on his show.
US Hedge funds were not the pile-on short sellers of financial stocks according to a number of sources. You "believe" they were, but where's your sources, cites etc. Haven't seen anything from you yet.
October 9, 2008 11:50 PM | Reply | Permalink
Others spotted it too.
October 10, 2008 9:06 AM | Reply | Permalink
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