Some of you are ignoring the big picture here. Short selling is NOT what caused these companies to fail. Its the other way around. The fundamentals of these companies is what created their ultimate demise. Based on this fundamental, everyone wants to short now. Now if china's financial institutions were failing, wouldn't you guys go in and short the crap out of them(if they allowed shorting)? Thats exactly what's happening here. The whole world wants to short the u.s. now and the u.s. is trying to prevent that. History tells us that this sort of desparate behavior will not work. They will fail eventually. Think Soros-GBP.
Terrorism on Wall St??? Barry Ritholtz
- Thread starter flytiger
- Start date
It was the beginning. It was the easiest, most agregious and the easiest to stop. It was unfair,a nd illegal, and a corrupt SEC let it go because in 2005, they said it would disrupt the systemif they called the fails in. And btw, they haven't done anything about it yet. Not till tomorrow and Tuesday.
Give credit where credit is due. The rest really followed. Naked short selling goes back to 1996 at least w/ REG S. It only got worse with lack of regulation.
There would be a lot less of a backlash in the US voters if the authorities just froze the supposed "terrorist" accounts. That is how one Asian country dealt with foreign manipulators, they just blocked the accounts from sending orders. There is also the possibility of freezing the assets in the account if through a US broker, which it almost certainly must be.
We're going to bring these roaches out in the open. So we can see exactly who the enemies of America are.
How'd you like to be hedgeorist and have your Republican investors find out how you make your money gang banging US Banking stocks.
fly is 100% on the money.
SEC Approves Amended Order Requiring Reporting of Short Positions by Certain Investment Managers
FOR IMMEDIATE RELEASE
2008-217
Washington, D.C., Sept. 21, 2008 â The U.S. Securities and Exchange Commission today approved amendments to its emergency order of September 18 (Release No. 58591) requiring that certain institutional money managers report their new short sales of certain publicly traded securities.
In addition to making technical amendments, the revised order also provides that the information disclosed by investment managers on new Form SH will be nonpublic initially, but will be made available to the public via the Commissionâs EDGAR website two weeks after it is electronically filed with the Commission.
The amended order will take effect at 12:01 a.m. EDT on Monday, Sept. 22, 2008.
Under the order, covered institutional money managers will be required to report any new short selling in all equity securities, except options, that are admitted for trading on a national securities exchange or quoted on the automated quotation system of a registered securities association. If any new short sales are effected on September 22 through September 27, the managers are required to submit a report on new Form SH to the Commission on Sept. 29, 2008. These managers are already required to report their long positions in these securities on Form 13F.
The Commission may extend the emergency order beyond its current effective period of 10 business days if it deems an extension necessary in the public interest and for the protection of investors, but will not extend the order for more than 30 calendar days in total duration.
How'd you like to be hedgeorist and have your Republican investors find out how you make your money gang banging US Banking stocks.
fly is 100% on the money.
SEC Approves Amended Order Requiring Reporting of Short Positions by Certain Investment Managers
FOR IMMEDIATE RELEASE
2008-217
Washington, D.C., Sept. 21, 2008 â The U.S. Securities and Exchange Commission today approved amendments to its emergency order of September 18 (Release No. 58591) requiring that certain institutional money managers report their new short sales of certain publicly traded securities.
In addition to making technical amendments, the revised order also provides that the information disclosed by investment managers on new Form SH will be nonpublic initially, but will be made available to the public via the Commissionâs EDGAR website two weeks after it is electronically filed with the Commission.
The amended order will take effect at 12:01 a.m. EDT on Monday, Sept. 22, 2008.
Under the order, covered institutional money managers will be required to report any new short selling in all equity securities, except options, that are admitted for trading on a national securities exchange or quoted on the automated quotation system of a registered securities association. If any new short sales are effected on September 22 through September 27, the managers are required to submit a report on new Form SH to the Commission on Sept. 29, 2008. These managers are already required to report their long positions in these securities on Form 13F.
The Commission may extend the emergency order beyond its current effective period of 10 business days if it deems an extension necessary in the public interest and for the protection of investors, but will not extend the order for more than 30 calendar days in total duration.
Go back to mlk day 2008 and rouge sg trader and sg unloading into a us market holiday. Joe lewis propping up BCS and his dealings with SG. Jerome Kerviel is free and gainfully employed, bcs employees quickly landed at sg....
WTF, forget the swf's and price discovery in oil markets. It is one cordinated attack and response going on, you are naive to think any different.
Started in earnest last august, 2007 and feds "surprise" rate cut on the 17th, I think. Elimination of uptick rule was the 1st chink in the armour, tactics and responses escalated from there. Chilling to piece together.....
WTF, forget the swf's and price discovery in oil markets. It is one cordinated attack and response going on, you are naive to think any different.
Started in earnest last august, 2007 and feds "surprise" rate cut on the 17th, I think. Elimination of uptick rule was the 1st chink in the armour, tactics and responses escalated from there. Chilling to piece together.....
Hmmm.....Well, how about a terrorist attack upon the Constitution and the Bill of Rights, and a slap in the face of all who have given life and limb too uphold them. ??
I am waiting patiently to see the roll out of the "Financial Patriot Act", so that I may marvel at the benevolent and loving ways that my government uses to protect me and my money.
Which one of you got the biggest account:
the upper elitist priesthood mass-suggesting the population?
or your account?
Remember how it is to live in a cannibalistic hierarchical pyramid scheme - it's one way of looking at the American dream -- carving your way to the top. Frag and stab as many you can to eliminate competition... Social and economic Darwinism - you gotta love the smell in the morning after a successful night stabbing people in their sleep. The horror, the horror... The Shock Doctrine - Shock&Awe - and they are like jelly in your hands - to form just like you want. Take two Xanax and see your shrink and minister for the weekend - they'll patch you together again. LOL...
Quote from Gringinho:
Which one of you got the biggest account:
the upper elitist priesthood mass-suggestion on the population?
or your account?
Remember how it is to live in a cannibalistic hierarchical pyramid scheme - it's one way of looking at the American dream -- carving your way to the top. Frag and stab as many you can to eliminate competition... Social and economic Darwinism - you gotta love the smell in the morning after a successful night stabbing people in their sleep. The horror, the horror... The Shock Doctrine - Shock&Awe - and they are like jelly in your hands - to form just like you want. Take two Xanax and see your shrink and minister for the weekend - they'll patch you together again. LOL...
I was hoping that the blatant sarcasm and the hint of my deep and utter disdain for most things "government" was observable in my remarks