Mr Falcone is one of a select band of private fund managers who have made their money through the morally dubious practice of short- selling which, despite involving trading something you don't own, is perfectly legal.

I'm sorry, but this is the dumbest article I've ever seen from the Telegraph. So it's ok to gamble on stocks going up, but not OK to gamble on them going down? Gosh I'm sure THAT would be great for the cause of accurate pricing market securities.

I think what really scares the sh*t out of people is that now we have enough powder on the short side of the market to start to price stocks accurately -- especially financial stocks. And no one likes what they see.

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