Friday, September 19, 2008

New (temporary) ban on short-selling selected corporations

Wait a minute, I think I actually agree with something Larry Kudlow wrote (in reference to this new development). Then again, liberal economist Dean Baker (Center for Economic and Policy Research) also agrees that a SEC regulatory change banning short selling is nonsensical and counter-productive, too.

I guess sometimes and idea (or an actual policy!) is so terribly irrational that both ultra-Right Wing-Free-Market-Fundamentalists like Kudlow and hipply-left wing economists like Baker end up united in proclaiming their disgust!

However, technically Baker is opposed to the ban less as a matter of political ideology, and more because the utter hypocrisy and pointlessness of such an anti-free market measure. So Kudlow is, in fact, just a few months behind Baker in reaching his conclusions.

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