Friday, May 30, 2008

Maybe This Is What Bear Stearns Should Have Done

Erm, I'm no expert on financial matters, but I'm almost positive the stock market doesn't work this way:
Investors at the Karachi Stock Exchange rose in protest at mid-day on Thursday against the incessant meltdown in stock prices.

As trading began, the market immediately dived 500 points, losing 4.5 per cent of the value, which marked the second consecutive day of a tight bear hug.

In a mixture of anxiety and exasperation, investors watched most of the stocks open on the ‘lower lock’, representing decline of five per cent — the maximum that a stock can shed during a day. That blocked the exit of shareholders who wanted to dump their stocks.

The protesters who gathered outside the trading hall carried placards and banners demanding closure of the market.
So the market should stop functioning because it's treating you badly? Isn't this what kids do when playing sports? You know, when the other player/team is winning, you simply stop playing, take your things, declare the result a "draw", and go home? Man, wouldn't life be great if we could simply call a time-out on it whenever it was going crappily?


zeyd said...

I'd love to see an effigy of the stock market being burned. That would make my month.

But seriously, how long before they actually attack the building and try to torch the place?

Ahsan said...

Fantastic idea. I really want to see an effigy of the stock market burned too.

Anonymous said...

I wonder if Chaudary Iftikhar would have issued a suo-motu action and called MD KSE and all its board of directors to supreme court and blamed them for the performance.