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How To Stop Stocks From Falling

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by Felix Salmon
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Chart of the Day: Palin on InTrade   Joe Nocera, Blogger

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Aug 29 2008 12:09pm EDT

How to Stop Stocks from Falling

Last month the Pakistani Small Investors Association made a "demand that all stock prices be frozen at current levels". Ask, it seems, and you shall receive: The Board of Directors of the Karachi Stock Exchange has decreed that although stock prices are free to rise as much as 5% per day, they're not allowed to fall below Wednesday's closing price.

Genius. Next step: why not decree that no trade can be made at less than 1% above the previous day's closing price? Guaranteed profits for everyone!

(Via Bloomberg via Campbell via Wiesenthal, I know I'm late to this.)

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