SEC Extends Short-Sale Ban, Giving Congress Time for Bailout

R

Robert Weinstein

http://www.bloomberg.com/apps/news?pid=20601087&sid=aQTMsp.Vz12A&refer=home

Oct. 1 (Bloomberg) -- The U.S. Securities and Exchange Commission will extend a ban on short-sales of financial stocks, leaving the prohibition in place until Congress approves a $700 billion economic bailout.

The ban will expire three days after lawmakers give Treasury Secretary Henry Paulson authority to buy illiquid assets that are burdening financial institutions, the SEC said today in a statement. The prohibition on short-selling will cease no later than Oct. 17 if Congress fails to pass the legislation.

To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net.
 
I might as well go on vacation. Lot more risk for my style of trading being long than short in this market.

Still have yet to see a stock that was harmed by legal short selling.
 
Quote from 1Reason:

I might as well go on vacation. Lot more risk for my style of trading being long than short in this market.

Still have yet to see a stock that was harmed by legal short selling.
More...

That was one of my early fascinations with the market, tracking stocks that rose in price as short interest increased.
 
You must log in or register to reply here.
Back
Top