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Bill,

I am surprised on this discussion on short selling. I thought the US governement $1 Trillion Bailout is a much important and larger issues that is going to hurt US economy and especially USD. This has enormous impact for our service. Why are we not talking about it and instead talking about some trading restriction, which we all understand could be very well short term. But the $1 trillion bailout is going to impact, we the people, for decades.


Personally I like that we are discussing this on the Philosophy board. Certainly we have a little room for this matter.

I guess what bothers me in all of this is that I hate seeing the "rules of the game" changed on such short notice and for what to me is a questionable reason. I know I am going to hate in retropect that I will equate this to craps but what the hey. To me I would not like it if I was at a craps table and all of a sudden it was announced that they were barring bets on the Don't Pass Line for some time period. It would not matter to me one iota if I were betting only the Pass line. If the reason given was that most people bet Pass and many are fearful that Don't Pass bettors destroy the karma of the game and so it is to appease those who feel their presence is the reason they are losing I would be very upset indeed. Now if they find out that these Don't Pass bettors had been cheating, then use the existing rules to police that situation up also. Likewise continuing on my betting theme I have no real problem if the rules of the game change because new information comes to light that necessitates a rule change. For example when I was a lad I could go to Vegas and play Blackjack at a single deck table where they would deal to the bottom of the deck. I also knew "conventional wisdom" of play at the time. But with computational power came information. Oops it turned out that under the existing rules of the game the house did not have an advantage. Their success over the years had been the "ignorance" of knowing correct play. They had to change the rules of the game to reestablish a house advantage.

But perhaps in seeking a fair game I should recall the immortal words of Rusty - "Game? This wasn't meant to be a game. NEVER!"

Dave -
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