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gruffydd

Time For This Madness To Stop

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good find gruff, particularly liked this bit;

If the government was a publicly-listed company, its behaviour would have alerted the FSA by now.

Disclosure is fundamental to market integrity and investor protection. It ensures that the price of securities reflects their underlying economic value. It minimises the potential for insider trading and other forms of market abuse.

The government has a fundamental moral duty to maintain a fair and orderly market when dealing with such a high-profile situation. It has not even come close to achieving this.

Instead, the inadequacy of the information it has disclosed has come perilously close to creating a false market in its shares.

The solution now is to suspend trading in Northern Rocks shares.

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Crony capitalism at its worst. How anyone can carp on about our free market economy, I just do not know. We have nothing of the sort. I've lost all trust in our brand of free market capitalism. Although I'm a business-owner - a true blue capitalist in terms of function - libertarian socialism has become increasingly attractive over recent times. We need a change. And soon. I think Greenspan was right when he identified a growing potential for mass social unrest and increasing instability in the future - the system stinks - and the powers that be are not even bothering to hide their dark agendas anymore.

Edited by gruffydd

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