i think you’re hoping that saving a bank or two is going to save us from financial ruin… it wont.
i’m not hoping that the banks fail, i’m nearly certain that many will fail or if not outright fail, lose lots of “value”, ie., stock price.
there’s no “adding fuel to the fire”, short positions are a minority compared to longs. short positions would end worthless if the companies were in good shape. the companies are fueling the fire by lying about their positions, they made their beds by taking advantage of deregulation and running hog fucking wild with free money.
bank runs are nearly certain to happen. the little guy is hurt by putting all his trust in the corporation, the fed, the government, the ratings agencies, the major media outlets. i and others here taking short positions are trying to not get as hurt. self preservation and i’m surprised to hear anyone chastizing us for doing the smart thing.
edit:
do you chastize rich for having taken positions in gold? he was certain of the downfall of housing and the dollar, does he deserve to be admonished for being right?
