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Wednesday,
October 22, 2008
(Cont'd from
above)...
Jim (cont'd):
...and tell him
to repeal
everything that
Chris Cox has
done to favor
the short
sellers over
you, regular
hard-working
people who are
bent on
destroying
stocks, and just
want to use
stocks to
augment your
savings, retire,
and help pay for
school...
Now, the Street
rejoiced today
about the
appointment of
Tim Geithner as
Treasury
Secretary...
Look, it's good
and bad news.
It's good that
we got the
position
resolved. We had
to get that
started. But I
felt bad,
because he was a
key architect of
some of the
worst things
that went wrong.
Again, I'm
open-minded...
I'm willing to
see whether
Geithner was
simply tainted
by Bernanke and
Paulson's
thinking... like
Cramer-fave,
Lincoln, I am
magnanimous in
defeat...
But there is no
excuse for Cox's
behavior, and he
must be broomed
immediately!...
The Bottom Line!:
You want order
restored?... The
markets to work
again?... An end
to the endless
selling of
fear?... Then
bring back the
rules we put in
place to avoid
another great
crash. The
Uptick Rule
wasn't broke,
but the SEC
fixed it, and
put the fix in
for the
shorts... It's
time to give the
longs back a
level playing
field, and stop
the rigging of
the market by
the shorts, and
bring
capitalism, not
capital
destruction,
back to our
markets.
Read Jim's next Segment
here
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