The Constitutive Role of Occupational Safety in Chile. The unintended consequences of an ideological symbolic content

Chris was considering various steps the SEC could take, including a temporary ban on short selling, but his board was divided. He wanted Tim, Ben, and me to support him on the need for a ban. The short-selling debate was another of those issues where I found myself forced to do the opposite of what I had believed for my entire career. Short selling is a crucial element in price discovery and transparencyБЂ”after all, David Einhorn, the hedge fund manager who shorted Lehman, had ultimately been proved right. I had long compared banning short selling to burning books, but now I recognized short selling as a big problem. I concluded that even though an outright ban would lead to all sorts of unintended consequences, it couldnБЂ™t be worse than what we were experiencing just then. We needed to do something. Wednesday afternoon I was cleared to fight all the fires we faced. I had sold my shares in Goldman Sachs and severed ties with the firm when I became Treasury secretary. I had also signed an ethics agreement that precluded me from being involved in any government transaction БЂњparticular to Goldman Sachs.БЂ«With the two remaining investment banks on the edge, Tim Geithner argued that my role as Treasury secretary demanded that I get involved ...»