John McCain took some flak when he called for the firing of the head of the SEC, Christopher Cox. But sadly events have proved him right.
Since McCain’s call for Cox’s firing. Cox has allowed the short sale ban on financial stocks to lift. Now that needed to be done eventually.
But it was lifted yesterday morning. Notice what the markets have done since then? Notice the obvious short raid on Morgan Stanley?
If that raid succeeds, God help us. God help us all.