Nearly one year after its original date of publication, my video, "Hedge funds and the global economic meltdown" has finally received its first bit of serious criticism, and I can’t express how pleased I am about it.
I originally published this video last on the first anniversary of the destruction of Bear Stearns, though its lessons seem even more timely today, the first anniversary of the destruction of Lehman Brothers.
Naked short selling helped crash the economy. The OIG thrashes the SEC. Other Watchdogs do nothing.
Over the next few minutes, you’re going to learn something you should have already known, but almost certainly do not. You’re going to learn more about what really sparked the global financial meltdown. You’re going to learn that it was a criminal enterprise. You’re even going to learn who might have been responsible.
Floyd Norris of the New York Times has written a column about the SEC’s recently expired “emergency order” preventing naked short selling of 19 financial stocks. His argument is…Actually, I have no idea what Mr. Norris is trying to tell us.