Now that we all know the real problems facing financial firms was rumor-mongering, short-selling and irrational pessimism rather than balance sheet bilge and mismanagement, we might want to start looking at how some of our trading partners are handling their own stock market declines. Over in Pakistan, as Felix Salmon points out, they've taken an even more direct approach than our own Securities and Exchange Commission.
In Karachi investors today broke windows, threw plant holders in the parking lot of the building, burned shareholder statements and at least one protester was injured, prompting intervention by police and the paramilitary.
"We demand that all stock prices be frozen at current levels," said a fellow called Kauser Javed, who heads the Small Investors Association.
We're surprised Hank, Ben and Chris didn't think of this first.
Pakistani Investors Stone Karachi Exchange as Stocks Plunge [Bloomberg]