Cox addresses illegal short selling aiding market collapse.

flytiger · Sep 23, 2008

Quote from d08:

flytiger: do you oppose "proper" short selling?

I proper short sell all the time. You didn't go thru my 4000 posts to search that out?

What I oppose is a system that honest citizens with factual data are shunned because the vested interests are so paid off, that they can't even act in the interests of their own Country.

This 'let them eat cake' philosophy' didn't work very well for Marie Antoinette, and they won't get away with it here.

EdgeHunter · Sep 23, 2008

Quote from flytiger:

I proper short sell all the time. You didn't go thru my 4000 posts to search that out?

Yup, Fly' always wears clothes when he shorts... so its proper and legal... :eek:

flytiger · Sep 23, 2008

Quote from EdgeHunter:

Yup, Fly' always wears clothes when he shorts... so its proper and legal... :eek:

I didn't say that. I make no guarantees on my attire. I work for myself. And if things don't pick up, I'm going to have to let myself go. Nice severance package though.

flytiger · Sep 23, 2008

Quote from stock777:

Hes not talking about naked selling you twit.

In a reply to Dole, he did actually address naked short selling in financials, and the damage they caused and how he had to act before they went to zero, even with 'good financials".

Steelhead · Sep 23, 2008

fly- do you disagree with all short selling?

Angrycat · Sep 23, 2008

naked short selling in financials, huh? All were easy to borrow and the short interest in bank stocks declined 3% from a peak of only around 20-24% at its peak in July. In July, when they were restricted to pre-borrow, they were easy to borrow and the rebate never changed on them throughout that period.

So, where are all these phantom abusive naked short sellers in financials?

The truth is that the only problem Cox sees is that he's about to be stripped of his job because he's unfortunate enough to be the commissioner when the market is going down. He was burning the midnight oil trying to concoct bullshit that will keep him out of the unemployment line - and if that meant burning down the house....well...that's a small price for us to pay to keep him employed.

Angrycat · Sep 23, 2008

also, if there are so many "good financials", then why do they all need a trillion dollar bailout? Let the good financials buy the bad ones.

The short ban is a racket and the SEC is a racketeer. Pure and simple.

stock777 · Sep 23, 2008

Quote from flytiger:

In a reply to Dole, he did actually address naked short selling in financials, and the damage they caused and how he had to act before they went to zero, even with 'good financials".

Sure, what I meant was the ILLEGAL part goes way beyond just naked shorting.

stock777 · Sep 23, 2008

I had to cover some piss ass stock (made money , small position) If this is for real , fireworks.

zdreg · Jan 2, 2009

Quote from Angrycat:

also, if there are so many "good financials", then why do they all need a trillion dollar bailout? Let the good financials buy the bad ones.

The short ban is a racket and the SEC is a racketeer. Pure and simple.

when he is gone he will be missed as short sale rules become more onerous if not banned altogether. uptick rule will be reinstituted to the benefit of hedge funds and exchange members.