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SEC Temporarily Blocks Short Sales of Financial Stocks

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SEC Temporarily Blocks Short Sales of Financial Stocks
Topic: Business 9:33 am EDT, Sep 21, 2008

The SEC issued a temporary ban on short sales of 799 financial stocks on Friday, a move against traders who have sought to profit from the financial crisis by betting against bank shares.

"The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets," said the S.E.C.’s chairman, Christopher Cox.

Those damned bears ...

Like sea lions snacking on Columbia River salmon, it's not the entire bear species causing problems. Bark-peeling is a learned behavior.

"One bear will teach another bear, and then that bear will do it. There are bears that peel and bears that don't peel. We target peeling bears."

Fortunately we've solved that little problem ...

Homer: Not a bear in sight. The "Bear Patrol" is working like a charm!
Lisa: That's specious reasoning, Dad.
Homer: [uncomprehendingly] Thanks, honey.
Lisa: By your logic, I could claim that this rock keeps tigers away.
Homer: Hmm. How does it work?
Lisa: It doesn't work; it's just a stupid rock!
Homer: Uh-huh.
Lisa: But I don't see any tigers around, do you?
Homer: (pause) Lisa, I want to buy your rock.

SEC Temporarily Blocks Short Sales of Financial Stocks



 
 
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