So now the Securities and Exchange Commission is gearing up for an investigation on the rank speculation going on inside Wall Street, speculation that almost tipped Lehman Bros. over and is threatening to do to Freddie Mac and Fannie Mae what the speculators did to the housing market and Bear Stearns — seed rumors, pick up the pieces, and profit hugely.
If there’s an investigation to be done, start there. I’ve screamed about this before
in August 2007 (and take some small conceit in being right), but this is out of control — and getting worse.