In a stunning interview on CNBC, LVS CEO Sheldon Adelson said short selling should be outlawed because it is "pure gambling." Based on this reasoning, I am assuming he would support outlawing real gambling? Sheldon is clearly losing his mind (LVS has dropped to 20 from 140 last year so I guess this is understandable).
Sheldon's other quick fix for the credit crisis is to eliminate mark to market accounting. Ummm, wow!!!
Treasury Secretary Hank Paulson should get Sheldon Adelson on the phone for more ideas on how to DESTROY CONFIDENCE in the markets.
It is pretty clear that the ban on short-selling has been a total disaster and has caused confidence to collapse (not improve). Changing the accounting rules will do more of the same.
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