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SEC intends to temporarily ban short selling
The Wall Street Journal (excerpt) (subscription required) ^
| September 18, 2008
Posted on 09/18/2008 4:46:35 PM PDT by HAL9000
Breaking News: SEC intends to temporarily ban short selling, but it's not clear if the commission has approved the move. Cox is briefing congressional leaders. Separately, the government is seeking congressional authority to buy distressed assets.
(Excerpt) Read more at online.wsj.com ...
TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: economicpolicy; govwatch; intervention; options; sec; short; shorting; shorts; shortselling; stocks; wallstreet
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1
posted on
09/18/2008 4:46:35 PM PDT
by
HAL9000
To: HAL9000
There is no disaster so bad that the government can’t make it worse..
2
posted on
09/18/2008 4:47:48 PM PDT
by
xcamel
(Conservatives start smart, and get rich, liberals start rich, and get stupid.)
To: HAL9000
...it’s about time!!! Now FIRE COX!
3
posted on
09/18/2008 4:48:16 PM PDT
by
devane617
(Fish died on his Harley when he hit a camel at dusk.)
To: xcamel
Amen.
Government is not the solution; it is the problem. — RR
To: HAL9000
5
posted on
09/18/2008 4:49:59 PM PDT
by
ari-freedom
(We never hide from history. We make history!)
To: HAL9000
Don’t have a subscription so can’t view. But are they talking about simple shorting or naked shorting because the naked shorting ban went into effect today at noon on all listed securities.
6
posted on
09/18/2008 4:50:35 PM PDT
by
bereanway
(Sarah get your gun)
To: devane617
fire Obama and Barney Frank...you know...the ones who were actually responsible for this mess
7
posted on
09/18/2008 4:51:18 PM PDT
by
ari-freedom
(We never hide from history. We make history!)
To: HAL9000
I will not believe this until the sell short option disappears from the menu of my order screen.
8
posted on
09/18/2008 4:51:52 PM PDT
by
freespirited
(Let's put Obama on eBay.)
To: bereanway
Naked shorts was what I heard earlier...
9
posted on
09/18/2008 4:51:57 PM PDT
by
xcamel
(Conservatives start smart, and get rich, liberals start rich, and get stupid.)
To: bereanway
naked shorting was not banned. “abusive naked shorting” will be banned if the T+3 rule is not followed. they can still naked short, but they must cover in trade+3 days.
10
posted on
09/18/2008 4:52:23 PM PDT
by
devane617
(Fish died on his Harley when he hit a camel at dusk.)
To: HAL9000
We’re the government,and we’re here to help you.
11
posted on
09/18/2008 4:53:52 PM PDT
by
mdittmar
(May God watch over those who serve,and have served,to keep us free)
To: ari-freedom
fire Obama and Barney Frank...you know...the ones who were actually responsible for this mess And Andrew Cuomo who got it rolling at Freddie and Fannie.
12
posted on
09/18/2008 4:53:56 PM PDT
by
FrdmLvr
("I don't know of a single thing Obama has done except talk and write". -- Newt Gingrich)
To: HAL9000
Democrats have been on TV all day saying the government must take over the distressed mortgages and or restructure them so the struggling “middle class” homeowners don’t lose their homes. Middle class my butt. The middle class taxpayers will be the ones footing the bill for the government subsidised deadbeat permanent Democrat “victim class.”
To: HAL9000
Short selling or naked short selling? There is a huge difference.
14
posted on
09/18/2008 4:56:59 PM PDT
by
Blood of Tyrants
(G-d is not a Republican. But Satan is definitely a Democrat.)
To: devane617
And what if they don’t? Where I grew up if a person tried to sell something he or she did not own, they were called a crook.
15
posted on
09/18/2008 4:58:36 PM PDT
by
Blood of Tyrants
(G-d is not a Republican. But Satan is definitely a Democrat.)
To: HAL9000
P.S. Pretty soon we may be drinking that free bubble up and eating that rainbow stew;)
16
posted on
09/18/2008 4:59:08 PM PDT
by
mdittmar
(May God watch over those who serve,and have served,to keep us free)
To: Blood of Tyrants
Short selling or naked short selling? There is a huge difference. The rumors are pointing towards a blanket ban on all short selling of bank shares, similar to what was implemented in the UK today.
17
posted on
09/18/2008 5:00:39 PM PDT
by
TXLibertarian
(RIP Free Markets 2008)
To: devane617
Cover in 3 days? ... no way, that cant be the rule. Only day traders would short stock if they had to cover in 3 days. Has to be something else.
18
posted on
09/18/2008 5:04:00 PM PDT
by
dartuser
("If you torture the data long enough, it will confess, even to crimes it did not commit")
To: NVDave; HAL9000
Is it me or is this an indication of further drops in the market?
19
posted on
09/18/2008 5:04:44 PM PDT
by
B4Ranch
(I'd rather have a VP that can gut a Moose, than a President that want's to gut our Second Amendment!)
To: HAL9000
The government is temporarily banning the sale of shorts.
This was too funny. I just couldn't resist.
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