Up markets are a good thing--Down markets are not. This is a view i have. You are right about short sellers being right because of corporate crap--also right because of 9/11 and its psycological aftermath. But it still is bad when the markets lead the economy(albeit weak) into the tank. And yes if shorting and hedgies are to be controlled so should excesses on the other side. The bubble itself needed to be contained much better than it was--perhaps its creation could have been prevented with a more aggressive policy in the late 90s. Greed is good, excessive greed is bad. Applies to shorts too some of whom take so much delight in the current mess. Remember your kids will inherit this mess, regardlesss of how much money is to be made on the dark side. mike