Martin Hemingway on short selling
27 JAN 2009
Dear Sir,
The government has allowed an economic boom to get out of control in increasingly unregulated markets. A massive recession has followed and billions of our money has been used to bail out the banks. Gordon Brown reassures us that only he has the experience get us out of the mess.
Despite clear warnings the ban on short selling shares ended on 16 January. On the same day the hedge funds that helped get us into this mess made big profits by targeting Barclays’ shares and the stock market then plummeted again.
You can’t just blame greedy banks, Gordon. Where are the real alternatives to failed economic policies and the tougher regulation to give us some confidence that our money is plugging the sink and not just going down the drain ?
Yours sincerely,
Martin Hemingway
Lead Euro-candidate for the Yorkshire and the Humber Green Party
mhemingway@ntlworld.com
