“There are no atheists in foxholes and no ideologues in financial crises.” — Ben S. Benanke, Chairman of the Federal Reserve (source)
No, Mr. Bernanke, you are wrong on both counts: there are plenty of atheists in foxholes and many of us “ideologues” actually believe in our ideals. That’s what makes them ideals.
“They who can give [...]
So…the stock markets are soaring today on news that the government has banned naked short selling. Add this to the jumble of other awkward, piecemeal “solutions” they’ve vomited out and what it leads to is disaster.
Banning naked short selling is not a solution, it’s a bandage. No, it’s worse than that; it’s a faustian bargain. [...]