Today's Financial Times revealed that currency speculators and hedge funds have amassed nearly $8 Billion in a short position against the Euro. This is where much of the tax payers bail-out money has gone. In the 1980s one currency after another was attacked in this manner, first the Russian Rouble and then a succession of Asian currencies. The governments of small countries could not withstand such onslaughts and a financial crisis ensued. The US 10b Regulation was put in place to prevent traders crashing economies and individual shares in this manner. Naturally it was repealed in the deregulation fever of the 1990s .
Despite all the political hot air that has been expended no regulations will be put in place to stop the non-productive sector wrecking the productive sector.
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