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: The Once and Future Lawyer

Greedy traders are worse than greedy associates

By 4L

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I saw that the stock market reacted fairly negatively to the rate cut. Everything is hunky dory and then, KABOOM.

Obviously a lot of people are upset. But give me a break. MSN has this as their lead quote: "Stocks tumble as investors see the central bank's interest-rate trim to 4.25% as way too small, putting the economy in danger of recession." Isn't this sort of sell-off more consistent with a mob mentality than actual reason? Who wants to bet that tomorrow's going to close a hundred points higher?

I guess this is the sort of thing I'm going to have to deal with on a more personal level next year (or as I'm sorting through boxes of papers dealing with such tumbles' aftermath. Fun stuff.

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Full post as published by The Once and Future Lawyer on December 11, 2007 (boomark / email).

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