Thursday, October 9, 2008

Reuters: Morgan Stanley shares plunge as short-sale ban ends

"The market is definitely trading on rumors, not news..."

"You can short Morgan Stanley today," said one trader, speaking on condition of anonymity."

Read article here.

That about sums it up. By caving in to the hedge funds and "free-marketeers" we will see the needless demise of another firm. The systemic collapse will accelerate with lightning speed if Morgan Stanley goes under. Next up: Goldman Sachs. Keep your eye on Warren Buffet's Berkshire Hathaway stock. That man is about to drop big-time in the wealth rankings. I never thought I'd hear myself say this, but I DO feel sorry for Warren. He's going to lose a lot (along with lots of his investors--that includes pensions funds, etc.) because we've let the barbarians take over.

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