Wednesday, September 17, 2008 4:49:23 PM
They were sitting on their hands listening to silly arguments about how shorting helps ensure market liquidity.
It is - believe it or not - like the tainted infant formula problem in China. Governments just don't take steps to correct a problem until it surfaces in a big way. The only reason we got the first federal securities law in 1933 was because of the Great Depression.
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