Don't Blame the Shorts: Why Short Sellers Are Always Blamed for Market Crashes and How History Is Repeating Itself

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McGraw Hill Professional, Dec 4, 2009 - Business & Economics - 272 pages

Why Main Street blames financial speculation for economic crashes

Disdain for short selling is as American as apple pie, dating back to our nation’s founding. But as Bob Sloan argues in Don’t Blame the Shorts, short selling lies at the heart of every Wall Street transaction and fuels the financial system.

Sloan explains that without shorting, credit in high-yield, distressed, convertible bonds and equities vanishes, thus choking economic activity. This eye-opening look at short selling in America provides new insight into our hostile relationship with shorting—a relationship that turns out to be unhealthy and counterproductive.

 

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Contents

The Populist Argument Is Born 18301907
17
19071920
27
Chapter 4 The Markets Before and After 1929
39
1932
49
1932
63
Chapter 7 The First Prime Broker Was Actually the NYSE
85
19321941
97
19471953
115
1987Present
123
Epilogue
141
New York Times Articles
161
Glossary
179
Notes
191
References
205
Index
233
Copyright

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About the author (2009)

Bob Sloan is managing partner of S3 Partners, LLC, which he founded in 2003. He serves as an independent member of the board and compensation committee for MF Global Ltd.

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