AIG Bailed Out; Jim Cramers Says: "We're Communists Now!"

[Yoda]

The ban on short sale of financial stocks is puzzling. I think this will only artificially pump up their prices until Oct 2 when the ban is supposed to be lifted. What are your thoughts?

[StlSluggers]

I never bought anything, and the couple I was watching were all over the board.

[Mugrila]

The ban on short sale of financial stocks is puzzling. I think this will only artificially pump up their prices until Oct 2 when the ban is supposed to be lifted. What are your thoughts?

The whole thing is a mess. Short selling obviously had a substantial impact putting downward pressure on the stocks, but I don't know that a 2 week outright ban on it will do anything positive. I guess we won't know for sure what impact any of the government actions will have for several months.

[Simulacrum]

Bwah ha ha

[Yoda]

The ban on short sale of financial stocks is puzzling. I think this will only artificially pump up their prices until Oct 2 when the ban is supposed to be lifted. What are your thoughts?

The whole thing is a mess. Short selling obviously had a substantial impact putting downward pressure on the stocks, but I don't know that a 2 week outright ban on it will do anything positive. I guess we won't know for sure what impact any of the government actions will have for several months.

All it is doing is temporarily stopping the bleeding. They need to just let the system flush this out. Companies like WAMU and GS and Wachovia or whoever else deserve the same fate as Lehman if they made bad decisions.

[Mugrila]

The ban on short sale of financial stocks is puzzling. I think this will only artificially pump up their prices until Oct 2 when the ban is supposed to be lifted. What are your thoughts?

The whole thing is a mess. Short selling obviously had a substantial impact putting downward pressure on the stocks, but I don't know that a 2 week outright ban on it will do anything positive. I guess we won't know for sure what impact any of the government actions will have for several months.

All it is doing is temporarily stopping the bleeding. They need to just let the system flush this out. Companies like WAMU and GS and Wachovia or whoever else deserve the same fate as Lehman if they made bad decisions.

I agree, either everybody comes out now and gets it out of the way, and the economy can rebuild, or we can drag this whole debacle out longer.

[Yoda]

Seriously though, as soon as they lift the short sale ban, wouldn't everyone (those that would have been shorting right now) be selling at that point and cause even more havoc?

[Mugrila]

I think the idea is that in two weeks there will be more information regarding the government bailout plan, less confusion, and therefore less panic.

[Yoda]

I did sell off all my positions today to take some profits. I may buy back on Monday.

[KCollins1304]

Bwah ha ha

Man, no one else loves this? At least he didn't the whole fleshlight.