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Reply #7: My guess would be some of the hedge funds riding commodities down [View All]

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Ikonoklast Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-22-08 06:16 PM
Response to Reply #6
7. My guess would be some of the hedge funds riding commodities down
And they got caught with the dollar tanking over the weekend as more people actually read and came out against the bailout bill as written by the Pugs.

Everyone assumed BushCo could panic Congress into rubber-stamping the thievery, and when they balked, the dollar got beat up overseas.

By the time the NYMEX opened, it was too late for the shorts, and they got hammered.

I hope that Congress looks into these unregulated hedge funds. I swear some of them were moving in tandem shorting the financials and beating them up even further than the market felt it should go. I bet they are steaming at the "Do Not Short" list issued by the SEC.
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