What say you oh mighty "freemarketeeerians"?
This doesn't seem to be the kind of measures needed if your "free' markets were really free. Admit it, insider trading and manipulation are the norm on Wall Street.
The best part of this story is that the use of trading curbs went all but unoticed in the press until the second use, just today! Didn't want to cause a panic is my guess. Hehey.
Meanwhile stock touts for hedge fund scammers, like Jim Kramer, were screaming "BUYING OPPORTUNITY!"
What this all was actually designed to do was to keep the suckers in the market and even get them to buy more. Without plenty of suckers to lose money, the hedge fund folk won't make any. And they have been suffering of late. But a few are now making HUGE money by shorting into this precipitous drop. (Gotta support those wives, ex-wives and kids, and mistresses!!)
With a virtual news blackout on the serious step of imposing trading curbs, the public was not alerted to get their assets into safer places. that's the norm for inside, unregulated hedge fund traders and mass delusional media acting in concert.
Good news for small traders though. All the trading limits are off now. You can get an account to trade anything with hardly any cash or assets to back it up. No experience required, the rats need your cash again! After dissing you with huge obstacles after the 90s bubble burst was blamed on the little guys unsophisticated trading style.
Trading firm and Wall Street lobbyists decided that since funds from small traders had dried up due to obvious corruption, it was time to tell the crooked legislators and regulators they bought and payed for to deregulate? That's my guess.
The bottomline is: All these problems were supposed to be cured by busting the ring leader of Wall street insider trading!! The evil ..gasp!... Martha Stewart!!!
