sec

I keep thinking about what John Kenneth Galbraith (1908-2006) would have had to say about the financial markets meltdown.

Following in the misguided footsteps of market regulators in Britain, the U.S. SEC is instituting a “temporary ban” on short selling in the U.S. markets.  In a week of depressing, frightening bad ideas, mindless grandstanding, and scapegoating, this may stand out as the worst example of panicked non-thinking.