When Cramer Calls You A Communist, Is That Good Or Bad?

Let's do a little thinking here. Just a little.
Premise: Short selling is not illegal.
Premise: Spreading wrong information is illegal (short or long, makes no difference).
Conclusion: Let's freeze short selling of financial stocks and open a limitless probe into the evil practice.
This, dear friends, is the scintillating genius of Andrew Cuomo. We expect this brilliance, naturally, given his passionate dedication to prevent you from getting barely legal tail from Facebook, his blocking of the most efficient source of porn for when you can't get barely legal tail from Facebook anymore (USENET), his abundant and financially relevant experience as Clinton's Secretary of Housing and Urban Development, and the fact that he has dropped out of races more often than Spitzer has banged working girls.
Ok, it may seem a little illogical at first, but when John Mack talks, people listen, damnit.


You Say "Voldemort" Like That's A Bad Thing

Do you think that Bruno Iksil, when he woke up in Paris on Friday looking forward to trading from home in his black jeans, expected to become an international celebrity? The evidence suggests not. You may remember Iksil - possibly under other names like "Voldemort" or "the London Whaleâ„¢" as the JPMorgan chief investment office trader who has sold protection on $100bn of notional of a CDX investment grade index to ... hedge ... JPMorgan's massive short position in credit ... or ... something?* Anyway a lot of people are mad at him because that's just too much protection to sell on that index and so they are complaining to Bloomberg and the Journal about how he is manipulating the market and also taking huge proprietary risks with JPMorgan capital that should obvs be regulated out of existence. This is weird in a lot of ways but one of them is that you can distill a lot of the Volcker-Rule complaints into "my God, you're telling me that JPMorgan is exposed to $100bn of credit risk on investment-grade debt issued by a diverse mix of 121 U.S. companies!?" No! JPMorgan is exposed to something like $750bn of credit risk on debt issued by a diverse mix of companies. Some of it's non-US. Some of it's not even investment grade. And that's just in its loan book.** Is writing $100bn of protection on the CDX.IG.NA.9 a terrible risk to take with investor and depositor and government-backstop money? Well, define "terrible risk." It's certainly less risky than operating the rest of JPMorgan.***