Short sellers are often the only sheriff on Wall Street, a crucial role in a rigged stock market – easy to forget after the furor over the “most shorted stocks.”
The historic short squeeze, engineered by a bunch of deeply cynical small traders, exposed just how rigged the market has been (transcript of my podcast).
“There is no justification” for continuing the purchases of mortgage-backed securities. The Fed is “misdiagnosing its impact on the housing market.” Pressure rises on the Fed to back off, in face of market craziness.
