Financials Get Slaughtered

Now that the "No Short" rule on Financials is gone, the shorts have stepped right back in and driven down the sector.  Below we highlight the worst performing stocks in the S&P 500 Financials sector today. 

The "No Short" rule coincided with the bailout package in order to stop our financial system from collapsing before a plan was put to work.  However, the SEC has now pulled the "No Short" rule before the plan has been put to work.  Credit markets are still frozen and banks have the exact same problems that they had the day before the "No Short" rule. 

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