Bush: Wall St. evildoers to be 'persecuted'

[BlueJessamine]

Source: Chicago Tribune

Many Wall Street operators who engage in the usually legal practice of making trades based on a hunch that a company's stock price is overvalued have been feeling victimized today, after federal officials, trying to stop the market meltdown, made such trading in financial stocks off limits until next month.

And maybe the short sellers as they're called, have something to worry about based on what President Bush said today during a brief appearance in the Rose Garden:

The Securities and Exchange Commission has issued new rules temporarily suspending the practice of short selling on the stocks of financial institutions. This is intended to prevent investors from intentionally driving down particular stocks for their own personal gain. The SEC is also requiring certain investors to disclose their short selling, and has launched rigorous enforcement actions to detect fraud and manipulation in the market. Anyone engaging in illegal financial transactions will be caught and persecuted .

Who knew persecution was in the federal statutes? Maybe the feds will give the guilty a choice: tar and feathering or being run out of town on a rail.



Read more: http://www.swamppolitics.com/news/politics/blog/2008/09/bush_wall_st_evildoers_to_be_p.html

[Alter Ego]

1. What the fuck.

Just when I thought ol' George couldn't get any more clueless, he goes and delivers this gem.

[Gman]

2. I heard that when he said it

I thought, "You f*****g idiot."

[ingac70]

3. He is so stupid...

yesterday he said he was going to console his economic advisers instead of consult them.

Persecution doesn't sound like a bad idea, though. lol

[fascisthunter]

6. no... that is what he meant

in other words, those on Wall Street will not be prosecuted, but persecuted by the media and public.

[anarch]

15. maybe he meant "console", too

"it's alright boys, I usually have no idea what the hell to do myself."

[CTyankee]

4. There he goes again.

I heard this during the Stephanie Miller program. She and the mooks picked up on it.

Won't it be great when we have an intelligent speaker as President again?

[Karenina]

7. He MAY be telling a rare truth!

Mit Uns & Agin'us

The Mit Uns get bailouts and the Agin'us lawyer up.

[Robbien]

5. Paulson should be first in line

In Bushspeak Evil doers = terrorists. Right?

Pick up Paulson and hand him a one way ticket to Gitmo.

[HopeHoops]

8. He reminds me of Archie Bunker warning Meathead about "preverts" on the subway

[gratuitous]

9. Suspending short selling?

I'm not a terribly sophisticated economic guru (assembled masses of DU: "No!!"), but it seems highly suspicious to me whan a game is such that you can only bet on the right team winning. Every stock purchase is, in effect, a bet. You buy stock and hope its price goes up. The person selling you the stock probably figures the price is going to go down. One of you is right. Suspending short selling is in effect saying that you can't bet that the price of a stock is going to go down anymore. You can only play the market if you think prices are going to go up, up, up forever! USA! USA!

What a stupid rule. And the SEC is supposed to know how these things work. I'm just a guy with a modem 3,000 miles away.

[paparush]

10. After this week, Republicans SHOULD be out of power for the next 500 years

Preaching free markets don't need regulation, oversight hampers free markets, the market will police itself. The poison pill the Gramm slipped in back in early 2000 (around the time PNAC was writing its famous document..hmmmm) has taken full effect.

And here are our Republicans practicing Socialism (Fascism really) and totally manipulating the free markets by outlawing short selling of 800 companies.

The crisis has been brewing and building for well over a year, and Bush, looking like a gunslinging hero, says we have to act NOW!

Somewhere, in some dark hotel room, Grover Norquist is filling up the bathtub.

[Politicalboi]

11. Like the "Evildoers" who

Shorted stock before 9/11. Or the 2.3 Trillion dollars missing on 09/10/01. Go get em!
We're still waiting........

[HopeHoops]

12. Wait, are they "evildoers" or "wrongdoers" - I forget

[jmondine]

13. Do the taxpayers have to pay for the torches and pitchforks?

[MomforObama]

14. It's even in the official transcript

on the White House website, with (sic) next to it. Ha ha!

[anarch]

16. EL-OH-EL!

That is hilarious!

[sakabatou]

17. And the monkey says:

"Persecuted."

[bulloney]

18. Bush probably meant what he said. He'll scold them and then let them resume fucking us over.

He probably said this after downing a few shots.

[Javaman]

19. This just in...

moron* this morning launched an all out offensive with the evildoers on wall street. He* stated in a press release, "the wall street evil doers hate America for it's freedoms. They can not stand in the way of our massive bailout to save patriotic corporate way of life".

sporadic gun fire was heard through out the down town are of lower manhattan.

Local hospitals were full of whining republicans.

[tanyev]

20. Waterboarding for everyone!