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SEC Halts Short Selling of Financial Stocks to Protect Investors and Markets

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posted on Sep, 19 2008 @ 01:35 AM
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SEC Halts Short Selling of Financial Stocks to Protect Investors and Markets


sec.gov



SEC Halts Short Selling of Financial Stocks to Protect Investors and Markets
FOR IMMEDIATE RELEASE
2008-211
Commission Also Takes Steps to Increase Market Transparency and Liquidity
Washington, D.C., Sept. 19, 2008 — The Securities and Exchange Commission, acting in concert with the U.K. Financial Services Authority, today took temporary emergency action to prohibit short selling in financial companies to protect the integrity and quality of the securities market and strengthen investor confidence. The U.K. FSA took similar action yesterday.
(visit the link for the full news article)




posted on Sep, 19 2008 @ 01:35 AM
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Well it looks like things are getting serious now, for this to happen, I just hope this slows down the blood letting in the markets.

We'll see tomorrow.

sec.gov
(visit the link for the full news article)



posted on Sep, 19 2008 @ 01:49 AM
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While I understand these measures are being put into place to try and protect troubled businesses(*ahem*banks) and the guise of protecting the public in general, I can't help but feel that this is just delaying the inevitable. To me it seems like using bubble gum to patch leaks springing in the Hoover dam.

I don't think this will fix anything any more than I think "injecting" money will, or bailouts will...we're just going to be bumbling and struggling along until the dam bursts.



posted on Sep, 19 2008 @ 01:57 AM
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This will only work if it's the short sellers of financials that have been pushing the market down. God help them if this isn't the case. If the short sellers have actually been trying to keep some of these financials afloat instead of trying to push them as low as possible, this action could very well do the reverse and drill big holes in the banks still staying afloat.

My only comment about it is this: Well, free market capitalism was sure fun while it lasted... what heavily regulated system should we try next?

Edit to add: I also find it absolutely ridiculous that we now have a foreign trade system in place (NAFTA) that is quite possibly less restricted and has had less reactionary government action taken against it in the face of strengthening evidence that it has been a failure and has brought the United States economy down rather than boosting all partner's economies as it was claimed it would do when the idea was first sold to us, than our own national market. Let me say that again... the federal government is now more involved and oversees more of the day to day operations of our own (supposedly private) stock market & banking entities than it is in regulating and overseeing international trade between the US & the rest of North America. Does anyone else see that and think it is just a bit backwards?

[edit on 19-9-2008 by burdman30ott6]



posted on Sep, 19 2008 @ 08:48 AM
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Well I don't know how long it will last, but it seems to be working to slow the insanity.

Later,...... Ausable_Bill



posted on Sep, 19 2008 @ 09:04 AM
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Correct me if I am wrong, but didn't this type of put options and then short/selling occurr in the aftermath of 911, up to the time they shut down the markets??

Makes one wonder eh???

Later,...... Ausable_Bill



posted on Sep, 19 2008 @ 09:08 AM
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reply to post by Ausable_Bill
 


No i think you are correct Ausable_Bill

So do you think some thing is about to happen like a false flag Bill?? or i'm reading into your words too much



posted on Sep, 19 2008 @ 09:23 AM
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reply to post by duffster
 


Hi Duffster,

No, I don't, I just remember that right after 911, there was alot of money made by people that basically bet on stocks dropping.

I figured it was done with put options and short sales, which indicated these same people probably had inside knowledge of the event beforehand.

If this is actually what went on, I don't understand why it was hushed up so quickly by the msm.

I mean, isn't that the way to find the truth of a situation is to follow the money?

Either that or I have a very active imagination???

Later,...... Ausable_Bill



posted on Sep, 19 2008 @ 09:29 AM
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Protecting the tax payer my arse!!!!!!!!!!!!!!!!!!!!!!!!!!!

Did you heard Paulson the corporate puppet telling how much this is going to cost to the tax payer!!!!!!!!!!!!!!!!!!!!!

Billions upon billions that means trillions of dollars.

Now my question is where is the facility for tax payers to dumb the debt put upon us to bail out this corporate elite.



posted on Sep, 19 2008 @ 10:13 AM
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I admit, I am no economic expert,..... but why can't they just shut down trading for a couple days instead of bailing out these crooks over and over and adding more debt to the tax payers??

Oh, nevermind,.... I answered my own question,... They can't make tons of money for themselves that way.

Later,...... Ausable_Bill



posted on Sep, 19 2008 @ 01:55 PM
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This is not going to solve the problem, they need to get rid of mark to market accounting methods...short sellers are a intricate part of the market...it comes back on the 2nd of October...



posted on Sep, 20 2008 @ 02:13 AM
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reply to post by yellowcard
 


Yeah, but what happens after the 2nd of Oct. ?

I think it'll start all over again at a faster pace than before.

Later,...... Ausable_Bill



posted on Sep, 20 2008 @ 05:14 AM
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Originally posted by Ausable_Bill
reply to post by yellowcard
 


Yeah, but what happens after the 2nd of Oct. ?

I think it'll start all over again at a faster pace than before.




the temporary ban on 'Shorting' the present 799 financial stocks will end on 2 Oct '08....
but that brief 9 day suspending of 'shorts' was put into the provision to make it look like the Fed/Treasury/SEC are behaving with prudence,


it also give the rules makers a timeframe to devise new policies to protect the money multiplier financial houses from having their corporate treasuries (market capitalization) from going bust.
I think there will be something like a limit on the number of Shorts available to buy...or something like just who can get into the Shorting markets....and a requirement that 'shorts' cost a whole lot more.

Consider a policy where only 20% of any bank/broker/primary dealer can be 'shorted' on any given day...which would give the targeted company a whole week of trading to adjust...while still providing a illusion of 'free markets' trading.
[of course, with the 20% rule, a target like GoldmanSacs (GS), would surely get a counter attack response by the regulators at the Fed etc. in some form, to counteract the 'shorting' attack.
the central banker elites do not view 'shorting' as a necessary part of bringing positive changes to non performing stocks.. they view 'shorting' as concentrated attacks to manipulate markets and make profits on the fear the volume of a 'short' attack generates



oh, back to the topic response...
i see a continuous series of 30 day extensions of the ban on shorts, and the number of stocks being protected also increasing...
look to the China directed Capitalistic model to see the USA stock & money market future.

[edit on 20-9-2008 by St Udio]




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