First, let me state emphatically (0.00 / 0)

that I support Senator Clinton and thank God for her presence and her work.

She is an elected representative and she is duty-bound to her constituents. She is well aware of the realities and the "realistic limitations" of the broader present government system, including laws as they stand, and of the leading personalities - hundreds (or more) of them --  with whom she must work. She is also very well aware of the views and knowledge-level of people all across our nation --  people who reside outside her constituency but nevertheless fellow participants in this great experiment our nation is leading in the modeling of a form of government which truly and efficiently represents the common good or the General Welfare (as expressed in the Preamble of our Constitution, where its purpose and intent is stated in one short paragraph.)

That said, I must add some things to what Senator Clinton has said here.

New York and Wall Street is not the financial capitol of the world. London (and its offshoots in the Cayman Islands, etc.) is. And they lobby our halls of government heavily. [That is an extreme understatement, but it will do for now. I might as well throw in Saudi Arabia for those few who have ears to hear.]

Now consider this in reference to what Hillary said in her speech about measures taken yesterday. Apologies for stating this in shorthand, but it's not necessary to insert lesson material to make the point.

Had (U.S. securities regulator) Cox done nothing on illegal naked short selling or reinstating the uptick rule, he alone would have been responsible for the total destruction of the international financial system with OTC derivative as the means by which that destruction occurred.

So just now, Securities Regulators and State Attorney Generals "came down hard" on the practice of naked and/or manipulative short selling. Know that this involves trading of trillions of dollars in current valuation of financial stuff daily.

London followed with a token gesture. This is typical and has gone unreported. An unwritten story bursting at the seams. You will never see London financiers take the lead or truly offer effective measures until they are forced to do so. (They do, however control a monstrous and effective propaganda machine.)

The Toronto Senior Exchange [think "Commonwealth nation"] remains silent on the subject. If the TSX does not declare its participation by next week many companies who are suffering from these malicious actions, particularly those with dual Canadian and US exchange listings, will delist. Toronto listings will move to the London Stock Exchange while remaining with the AMEX, soon to be NYSE, listing facility. That strategy would maintain dual nationality listings, creating, regulatory difficulties, while at the same time tending to undermine our nation's sovereignty and ability to take decisive action in this crisis. This crisis is WORLDWIDE and demands cooperation among the sovereign nations of the world.

A form of Resurrection Trust much touted today has no application to a derivative meltdown. Simply stated, it will not work. Those that favor this idea demonstrate their total lack of knowledge concerning what OTC derivatives are.

The stock market was impressed by the worthless concept of a Resurrection Trust plus the probability of naked short covering. It continues its death-dance, awaiting effective intervention on a political level, such as will be led by Senator Clinton.

If the Securities and Exchange Commission really has zero tolerance for naked and/or manipulative short selling it is too late for big nasties to borrow shares to do the short selling legally ("naked" means selling without having done that - a practice having gone on for years as these powerful fools ignored laws they found inconvenient.) One of the tools of the loyal-to-no-nation, and destructive-to-the-sovereignty-of-all used to hide and to patch up their murderous mess would become no longer available.

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by: Gary McGowan @ Fri Sep 19, 2008 at 01:46:26 AM CDT

Take it up with Paul Krugman (0.00 / 0)

Krugman was writing about the issue in today's NYT.  Check it out.

http://www.nytimes.com/2008/09...

It reads to me like he's supporting Hillary's view on the subject.

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by: dbrown04 @ Fri Sep 19, 2008 at 06:45:07 AM CDT

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Okey-dokey... (0.00 / 0)

I support Hillary's view. I've read Krugman's piece at your suggestion. Let's just say that I find in Senator Clinton's actions more hope than I find in Mr. Krugman's writing.

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by: Gary McGowan @ Fri Sep 19, 2008 at 08:54:37 AM CDT

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