I just saw this headline in the Wall Street Journal a few minutes ago:
"WASHINGTON--The Securities and Exchange Commission announced an emergency action aimed at reducing short-selling that targets Wall Street brokerage firms as well as Fannie Mae and Freddie Mac, and will immediately begin considering new rules to extend new requirements to the rest of the market."
Not only will it involve selling short FRE and FNM, but according to the journal, it will also apply to Lehman Brothers (LEH) , Goldman Sachs (GS), Merrill Lynch (MER) and Morgan Stanley (MS).
I tried to find this emergency order on the SEC web site, but could not. Please send a link my way if anyone can find it.
Tuesday, July 15, 2008
Will the SEC End the Short Sale Party?
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Recently an insurance company nearly wind up....
A bank is nearly bankrupt......
Who fault?
The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......
Sign a petition to your favourite president candidate, congress member again and ask for their views to comment on this, and what regulations they are going to raise for implementation.....If you agree on my point, please share with many people as possible....
http://remindmyselfinstock.blogspot.com/
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