SEC Issues Temporary Ban Against Short Selling

CR250Rider
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CR250Rider
Edited Date/Time 1/25/2012 8:35am
The Securities and Exchange Commission on Friday launched an aggressive assault against short-sellers, saying it would temporarily prevent investors from making bets on stock declines in an attempt to stem some of the worst stock-market slides in years.

The SEC, which had convened a late-night commission meeting Thursday to consider several items, said in a statement early Friday morning it is halting short selling on 799 financial stocks. The ban, which is effective immediately, is set to last for 10 days, but could be extended for up to 30 days.
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SteveS
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SteveS 9/19/2008 6:30am
9/19/2008 6:30am Edited Date/Time 9/19/2008 9:18am
Isn't this discriminatory against vertically challenged people, banning short sellers and aggressively assaulting them?
j100
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j100 9/19/2008 7:19am
9/19/2008 7:19am
i think this was a good move. these fucking traders were buying down companies on purpose to make a buck.

that would've cost us more money and more good americans jobs.

i'm all for making a buck, but i'm not for allowing at those measures.
BMSOB
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BMSOB 9/19/2008 9:29am
9/19/2008 9:29am Edited Date/Time 9/19/2008 9:29am
The goddamn economy thing is starting to hurt them in the polls. Anything to make it look like they care before the election.
pushpulldragitin 9/19/2008 10:31am
9/19/2008 10:31am
Hell it isnt the short sellers fault the financial institutions are taking a beating and folding. Being leveraged at a 30to1 or greater ratio would be the biggest problem and I would continue to short these stocks if I could. The govt. cant be responsible for the mismanagement of these investment banks. More banks will fail no matter how much money the govt. puts into them. You cant unwind 30to1 problems without failure.

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Void Main
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Void Main 9/19/2008 10:36am
9/19/2008 10:36am
SteveS wrote:
Isn't this discriminatory against vertically challenged people, banning short sellers and aggressively assaulting them?
Oh crap, I wasn't ready for that one. Smile
SteveS
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SteveS 9/19/2008 11:48am
9/19/2008 11:48am
Heh. You can always mispronounce "shortly" by leaving out the "l" as well.

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