Conspiracy theories feed on opacity, and that's a longtime problem with short selling. Large long positions must be reported to the Securities and Exchange Commission in public filings, but not large short positions.

When the Securities & Exchange Commission settled securities-fraud charges against Richard Harriton, former chairman of the clearing subsidiary of Bear, Stearns & Co., there were smiles all around. The SEC was happy. Harriton was happy. Bear Stearns was happy.

One problem with the focus on speculation is that it tends to promote the growth of the great intellectual cancer of our times: conspiracy theories.

I think the Securities and Exchange Commission better look at this because what you've got is prior misstatement.

In a world of full of manipulation, half-truths and lies, the conspiracy theory is often a safer bet than the official story.

The conspiracy theories have never had it better.