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SEC bans short-selling for financials

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Eli Weiss

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Nov 28, 2005
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Certified Residential Appraiser
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New York
The U.S. Securities and Exchange Commission took what it called "emergency action" on Friday and temporarily banned investors from short-selling 799 financial companies.
The temporary ban, aimed at helping restore falling stock prices that have shattered confidence in the financial markets, takes effect immediately.

http://biz.yahoo.com/cnnm/080919/091908_sec_short_selling.html
 

William K

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Sep 21, 2007
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Aren't Free Markets just great!

Next thing you know Las Vegas will be inforcing new Craps rules.

I'm sorry sir but you can only bet on the point being made, we don't allow bets against the point being made any longer!
 

Metamorphic

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Mar 15, 2008
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Certified Residential Appraiser
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California
I kind of get where they're going...."If you want invest in the company, invest in the company. If you're trying to clear a quick buck as this company struggles, only aggravating the situation, then you're not welcome here." It would be nice if that was an ethical choice speculators would make on their own, but that' snot the case.

The only thing worse than the decision to ban short selling would be to bail the company out next week effectively transferring a bunch of tax payer dollars into the short sellers pocket.
 

Eli Weiss

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Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
SKF is way down, sorry doug, you should have known the risk.....
 
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