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Update - For whatever reason, the author said the first link in Youtube was unauthorized...but somehow this one is legit? Anyways, the link is fixed.
Whoopsie! Regulations created to prevent another Great Depression were repealed right before the housing market crash. The "Uptick Rule" was created after the Great Depression to outlaw certain kinds of destructive short selling that is essentially market manipulation. In July of 2007, the rule was repealed because the SEC thought it was just a silly rule that had no relationship to the Great Drepression. In November of 2011, a group of unknown investors performed a "Bear Raid" on Citigroup in which a group of people short sell a stock in a coordinated fashion that would have violated the rule a few months earlier. That grouped pocketed about $600 million while Citigroup was killed and the financial system spiraled the world economy into the Great Recession.
The SEC asked for comments on the re-institution of the rule in 2009 but really hasn't done shit about it. Apparently, Hedge Fund managers hold just a little more sway over the SEC than the public.
What should we expect from an organization that completely missed the Bernie Madoff Ponzi Scheme?
Turn your Glitter into LITTER!
Correspondence released Tuesday shows that James Murdoch was warned in writing of the seriousness of a threat to sue the News of the World newspaper over phone hacking in 2008.
Jeff Foxworthy has nothing on the Department of Justice's indicators of a terrorist. Which is not that big of a deal except Congress is trying to pass a law that says you can be put in jail for life if they SUSPECT you of being a terrorist - No trial necessary!
It is also related to Jeff Foxworthy (well...rednecks) because the law also repeals the rules prohibiting our warfighters from having sex with animals.
A stylist who worked on Gossip Girls was horribly injured when she was chopped up by a airplane propeller while in a fist fight with Harrison Ford.
Yeah...I have been VERY delinquent with my updates. Now that my work life is settling down, these should come more regularly...Like Uncle Dick.
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