Tuesday, May 4, 2010

Congressmen shorted the markets too

While deservedly accusing Goldman Sachs of shorting structured financial securities they in turn sold to clients, members of Congress also allegedly shorted the market during the financial crisis, profiting from the market declines. I have no problems with legal profits from trading/investing. But if you bet wrong and lose big, don't expect a bail out. Having said that, these government interventions are creating some very strange interactions.

http://finance.yahoo.com/news/article/109442/congress-members-bet-on-fall-in-stocks?sec=topStories&pos=5&asset=&ccode=

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