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SEC Extends Ban on Short Selling
teickdyn ( Score Rank: #209 based on predictions in the last 30 days ) teickdyn  |  was scored on 04-Oct-2008 (48 days ago)
Under the SEC's new emergency rules, (quite different from the agency's old emergency rules) none of the 799 financial stocks on its uncarefully screened list can be sold short. That's the bad news. The good news is that all 799 stocks are still solvent, allegedly. The SEC's emergency order barring short sales will expire Oct. 2 unless its commissioners vote to extend the rule.

Will the SEC extend its ban on the short selling of 799 financial stocks past October 2nd?
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2008-10-04
 
Oct. 3 (Bloomberg) -- The U.S. Securities and Exch... (more)
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2008-10-03
 
WASHINGTON (Reuters) - The U.S. Securities and Exc... (more)
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2008-10-02
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US regulators on Wednesday night said they would e... (more)
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2008-10-01
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US regulators were expected as early as Wednesday ... (more)
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  1. Arthur Arthur 50 days ago
    0 vote This is Good This is Bad
    answered: [ * ] Yes, SEC extends the ban
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    http://www.business-standard.com/indi...

    The current ban would expire on the third business day after enactment of the legislation. However, the order would expire in no case later than October 17.
  2. ancienthart ancienthart 52 days ago
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    predicted: [ Most Likely ] [ 80% ] Yes, SEC extends the ban
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    The SEC is interested in keeping the market stable, even if it has to do so artificially. Wikipedia argues quite reasonably for short selling in the "Opinions" section of http://en.wikipedia.org/wiki/Short_(f...) Also good to have a look in the article for the difference between short selling and naked short selling.)
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