| The point about speculators, greedy money men that they may be, is that they tend to be ruled by the fundamentals. |
| As is the case with the rentiers, the speculators act only partly out of reasoning. |
| The Credit system is too impaired, chastened investors and speculators too risk-averse, and the Bubble economy too maladjusted. |
| As a result, many people lost money, some no doubt cheated by unscrupulous speculators. |
| The traditional short-covering by speculators that usually followed a sharp downward movement was no longer present to instill some recovery. |
| It will also infuriate the rating agencies like nothing else, and, of course if would spoil all the fun for the money market speculators. |
