Ban the Bear

by Eliezer Yudkowsky1 min read19th Sep 200839 comments


Personal Blog

I applaud the SEC's courageous move to ban short selling.  Isn't that brilliant?  I wonder why they didn't think of that during the Great Depression.

However, I feel that this valiant effort does not go far enough.

All selling of stocks should be banned.  Once you buy a stock, you have to hold it forever.

Sure, this might make the market a little less liquid.  But once stock prices can only go up, we'll all be rich!

Or maybe we should just try something simpler: pass a law making it illegal for stock prices to go down.