Selling short peoples' lives

Today the United States effectively ended the "short selling" on the New York stock exchange. The question is, will Labour have the guts to do this over here ?

George Osborne refused tonight to say that the Tories would do anything about "short selling", so it appears unlikely that any future Tory government will do anything to prevent their friends in the city causing further misery to savers.

The truth is that short selling by city traders has led to the effective collapse of Alliance and Leicester and now HBOS. Who will be their next target ? Who knows, and seemingly nobody in government cares.


Jim said...

And yet, here's a puzzling thing. The Lib Dem condemnation of short selling (which is a perfectly reasonable and useful activity, by the way) is partly funded by short sellers.

Lib Dem donations from Paul Marshall, co-editor of the Orange Book: £162,235

Paul Marshall is managing partner of Marshall Wace. Marshall Wace, as of the last available data, was shorting HBOS.

James Schneider said...

Come on Nich, you must know that isn't how it works.