Hi Ed. et.al.

"If European governments and the U.S. Congress ceased the practice of giving people what they have not earned"

Comment:

This I agree with, but the whole idea of socialism is no different than a glorified "ponzi" scheme.

"It has to be combined with disallowing, or punishing, financial institutions of packaged bad assets under a 'good' label i,e, derivatives."

Comment:

Sorry, I come from a different camp. I read everything I sign for and never purchase what I can't afford. I come from a "school of hard knocks" and have little sympathy for those that are looking for an easy ride. Its called being responsible. I can't totally blame the banks. It takes "two to tango".

"Same applies to selling what is not owned (shorting). These are fraud by another name."

Comment:

With this I agree. In fact I consider shorting to be no better than stealing.

Consider this:

If you took someone elses car and sold it, would you be committing a crime of theft?

No difference, imo.

Just because the regulators allow shorting, doesn't make it morrally or ethically right.

“He who sells what isn’t his’n (his own)

Deserves to spend some time in prison”

Good Luck to all!