Amen Corner

I'm not the biggest Cramer fan in the worled, but his comments, recorded in Stan Yee's post here, echo my thinking. Two of the best things Obama can do to right the sinking ship of Wall Street are get rid of Chris Cox, head of the SEC, and bring back the up-tick rule.

Bottom line: "You want order restored, the markets to work again, an end to the endless sowing of fear? Then bring back the rules we put in place to avoid another Great Crash. The uptick rule wasn't broken, but the SEC 'fixed' it and put the 'fix' in for the shorts. It's time to give the longs back a level playing field, stop the rigging of the market by the shorts, and bring capitalism, not capital destruction, back to our markets."

I've posted (below) on the need to re-regulate and Cramer just reinforces my opinion there, on the up-tick rule. Chris Cox is Reagan-Republic, Laffer Curve, trickle-down, cut-the-tax kinda guy; just what we DON'T need in the current debacle. As with most Bush appointments, he was long on Bushie dogma and short on clues.