Bear on eBay
March 18, 2008 7:30pm by Barry Ritholtz
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Comedy Central on The Economy
It’s still not funny.
Yeah, this may sound like a good deal, but what’s the postage going to cost to ship that
$1.4 billion$1.1 billion building to California?Greenspan either taught Karl Rove or vice versa. This latest direct dodge of responsibility for the alphabet soup of debt instruments is just more proof of his duplicity.
http://www.lewrockwell.com/orig9/sheehan-f1.html
Asif Mandvi on the Daily Show
about the market.
Pretty funny.
http://www.thedailyshow.com/video/index.jhtml?videoId=164179&title=crisis-in-the-chartland
the folks at BSC (and here i’m not talking about the bridge-playing Caynes or the culpable mortgage-backed Spector, but the many many folks who worked hard for many years and didnt obviously try to screw their fellow man every morning of the week) must be shaking their heads today as similarly levered I-banks escape w higher prices and a glimmer of a future. unbelievable
Very funny.
But on a serious note, BR, how long before someone successfully sells shares of a publicly traded company via eBay or other online auction? The end-around the SEC would also seem to skip the investment bank and wirehouse bullshit.
Russ Wood,
The SEC doesn’t police the market; it polices the potential competiton by making it illegal to broker securities unless you are a broker. In theory, the mafia or someone in Vegas could give daily, weekly, monthly or even yearly odds on all the stocks and have bookies take bets with a lower commission to boot. Hell, I don’t know. Maybe this kind of under the table stuff goes on all the time. As long as someone wants to play Bank, has some cash and a live feed of stock prices, they’d run until the law caught them.
how long before someone successfully sells shares of a publicly traded company via eBay?
ebay doesn’t allow shares or several other types of merchandise to be auctioned via their site. Wouldn’t say it couldn’t happen: they have too many listings to patrol them all, but they have certainly shown a willingness to pull auctions that “looked funny” even when they were popular and honest.
The feedback on this one should be good… “Seller sent toxic waste instead of financial assets; would not buy again”