So the Perpetrators Are Now Our Saviors? [View article]
Cuomo in NY is investigating the likelihood that CDS market was manipulated by hedges colluding to weaken the apparent creditworthiness of financials. Could this have happened to many of the banks in peril, or is this unrelated?
Fear and Greed: Premise for Capitulation and Overreaction [View article]
Let's have some discourse on just why the various countries have banned short-selling if it is so beneficial in terms of reduced volatility, establishing fair values, etc., etc.
Fear and Greed: Premise for Capitulation and Overreaction [View article]
wpdragon, If the gov't makes no distinction between the damaging potential of short sellers vis-a-vis naked shorts in banning them both, why should I have to be concerned with what is, perhaps, not much more than a semantic distinction?
Both types of shorts are pernicious and create very negative financial 'karma' in the market and must be tightly regulated, if not outlawed, to create a positive, and growing, market.
Enough of these negative types spreading rumors and hoping that particular stocks, and possibly the country, fail just to maximize their short returns.
Fear and Greed: Premise for Capitulation and Overreaction [View article]
Countries banning shorting - Reuters:
FACTBOX-Short-selling bans in various countries Tue Sep 23, 2008 4:53pm BST
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Sept 23 (Reuters) - Stock market regulators around the world have introduced curbs on short-selling, especially in financial stocks. Short-sellers are investors who borrow shares and sell them on in the hope of buying them back at a lower price to make a profit. Those who do not borrow the securities in advance of the sale are "naked" short sellers.
Following is a glimpse into actions taken by some countries around the globe to curb short-selling:
* AUSTRIA:
-- There is no provision in Austrian law to ban shortselling. Regulator FMA has tried to curtail shortselling instead by declaring that shortselling beyond a certain volume is deemed probable cause for market manipulation or insider trading. It has reminded participants of their duty to report to the FMA if they suspect others to hold short positions exceeding 0.25 percent of an issuer's share capital. This would then trigger further investigation.
* AUSTRALIA:
-- The Australian Securities and Investments Commission banned short-selling on Monday for at least one month to help stop the share market plunging. However it eased its blanket ban on Tuesday to allow investors trading the difference between share prices on dual-listed stocks to make covered short sales.
* BRITAIN:
-- On Sept. 18, the Financial Services Authority banned investors from shorting the shares of 29 financial companies, including the UK's biggest banks and insurers. The next day four more companies were added to the list. The ban will remain in force until Jan. 16, 2009. * CANADA:
-- The Ontario Securities Commission, Canada's largest provincial securities watchdog, announced a temporary ban on short-selling in certain financial stocks on Sept. 19.
* GERMANY:
-- Finance ministry and financial watchdog BaFin banned on Sept. 19 short-selling of shares in 11 of its financial services until the end of the year.
* GREECE:
-- The stock exchange will flag short sales from Sept. 24 to Dec. 31. The regulator will publish a daily account of all short sales that took place during the trading day and the number of shares by company that were purchased by borrowing.
* ITALY:
-- Stock market regulator Consob banned short selling of bank and insurance stocks on Sept. 22 until the end of the month.
* LUXEMBOURG:
-- Luxembourg's financial regulator CSSF banned naked short sales on Sept. 19, with immediate effect.
* NETHERLANDS:
-- Dutch market regulator AFM on Monday released the names of eight financial institutions covered by a three-month ban on "naked" short selling of their shares.
* PAKISTAN:
-- Short selling in the ready and futures market of the Karachi Stock Exchange will be prohibited for a month starting from Sept. 24 when trading in the October contract begins.
* PORTUGAL:
-- Portugal's CMVM market regulator prohibited short-selling of financial stocks on Sept. 22. The ban applies to eight banks listed on Euronext Lisbon.
* SINGAPORE:
-- Singapore Exchange said late on Monday that it would tighten rules to discourage "naked" short-selling. Traders who cannot deliver shares they sold will now face a penalty of 5 percent of the value of the failed trade subject to a minimum of S$1,000 ($710).
* TAIWAN:
-- Taiwan's Financial Supervisory Commission said on Sept. 21 it was reimposing a ban on short-selling shares in 150 companies below their closing prices in the previous session. Investors cannot short stock in 150 companies in the Taiwan 50 Index, the Taiwan Mid-Cap 100 Index and the Taiwan Information Index from Sept. 22 to Oct. 3.
* USA:
-- The U.S. Securities and Exchange Commission has temporarily banned short selling in the stocks of 799 financial companies. The ban will stay in force until Oct 2. (Writing by Jijo Jacob. Editing by David Cutler and Andy Bruce)
Fear and Greed: Premise for Capitulation and Overreaction [View article]
Einhorn at Greenlight and others at similar firms colluded in spreading rumors, lies and innuendo. This will be borne out by SEC investigations that will result in many of these liars going straight to the federal pen.
Don't tell me that shorts make any positive contribution. If they are so beneficial to markets, why are they now banned in over 20 countries?
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Latest | Highest ratedApple: Though Tempted, I Wouldn't Bite Just Yet [View article]
So the Perpetrators Are Now Our Saviors? [View article]
See this article:
www.efinancialnews.com...
So the Perpetrators Are Now Our Saviors? [View article]
That is a hell of a lot different from saying they have NO value as is alleged by the shorts who basically caused a run on the banks.
Hence, WB is fetching a fine price today and the shares are jumping.
Now it's time to look at FNM and FRE with a fresh eye.
Remember, most of their mortgages were originated WAY before this valuation issue was trumpeted by the buglers of doom.
Apple: Though Tempted, I Wouldn't Bite Just Yet [View article]
A shame.
Fear and Greed: Premise for Capitulation and Overreaction [View article]
news.yahoo.com/s/nm/20...
Fear and Greed: Premise for Capitulation and Overreaction [View article]
Anyone?
Fear and Greed: Premise for Capitulation and Overreaction [View article]
Both types of shorts are pernicious and create very negative financial 'karma' in the market and must be tightly regulated, if not outlawed, to create a positive, and growing, market.
Enough of these negative types spreading rumors and hoping that particular stocks, and possibly the country, fail just to maximize their short returns.
Yeah, I pissed off about what they've done.
Fear and Greed: Premise for Capitulation and Overreaction [View article]
I encourage interested investors to contact their representatives and the SEC regarding continuing a short selling ban.
Further, the SEC should publish shortsellers short lists under the freedom of information act and put a robust uptick law in place, now.
How Much Are Fannie and Freddie to Blame? [View article]
Let's not forget his bonus.
Couldn't that have been a tiny factor in all this?
Hopefully, the FBI can get some of that money in a nice clawback of sorts.
Fear and Greed: Premise for Capitulation and Overreaction [View article]
FACTBOX-Short-selling bans in various countries
Tue Sep 23, 2008 4:53pm BST
Email | Print |
Share
| Single Page | Recommend (-)
[-] Text [+]
Sept 23 (Reuters) - Stock market regulators around the world have introduced curbs on short-selling, especially in financial stocks. Short-sellers are investors who borrow shares and sell them on in the hope of buying them back at a lower price to make a profit. Those who do not borrow the securities in advance of the sale are "naked" short sellers.
Following is a glimpse into actions taken by some countries around the globe to curb short-selling:
* AUSTRIA:
-- There is no provision in Austrian law to ban shortselling. Regulator FMA has tried to curtail shortselling instead by declaring that shortselling beyond a certain volume is deemed probable cause for market manipulation or insider trading. It has reminded participants of their duty to report to the FMA if they suspect others to hold short positions exceeding 0.25 percent of an issuer's share capital. This would then trigger further investigation.
* AUSTRALIA:
-- The Australian Securities and Investments Commission banned short-selling on Monday for at least one month to help stop the share market plunging. However it eased its blanket ban on Tuesday to allow investors trading the difference between share prices on dual-listed stocks to make covered short sales.
* BRITAIN:
-- On Sept. 18, the Financial Services Authority banned investors from shorting the shares of 29 financial companies, including the UK's biggest banks and insurers. The next day four more companies were added to the list. The ban will remain in force until Jan. 16, 2009. * CANADA:
-- The Ontario Securities Commission, Canada's largest provincial securities watchdog, announced a temporary ban on short-selling in certain financial stocks on Sept. 19.
* GERMANY:
-- Finance ministry and financial watchdog BaFin banned on Sept. 19 short-selling of shares in 11 of its financial services until the end of the year.
* GREECE:
-- The stock exchange will flag short sales from Sept. 24 to Dec. 31. The regulator will publish a daily account of all short sales that took place during the trading day and the number of shares by company that were purchased by borrowing.
* ITALY:
-- Stock market regulator Consob banned short selling of bank and insurance stocks on Sept. 22 until the end of the month.
* LUXEMBOURG:
-- Luxembourg's financial regulator CSSF banned naked short sales on Sept. 19, with immediate effect.
* NETHERLANDS:
-- Dutch market regulator AFM on Monday released the names of eight financial institutions covered by a three-month ban on "naked" short selling of their shares.
* PAKISTAN:
-- Short selling in the ready and futures market of the Karachi Stock Exchange will be prohibited for a month starting from Sept. 24 when trading in the October contract begins.
* PORTUGAL:
-- Portugal's CMVM market regulator prohibited short-selling of financial stocks on Sept. 22. The ban applies to eight banks listed on Euronext Lisbon.
* SINGAPORE:
-- Singapore Exchange said late on Monday that it would tighten rules to discourage "naked" short-selling. Traders who cannot deliver shares they sold will now face a penalty of 5 percent of the value of the failed trade subject to a minimum of S$1,000 ($710).
* TAIWAN:
-- Taiwan's Financial Supervisory Commission said on Sept. 21 it was reimposing a ban on short-selling shares in 150 companies below their closing prices in the previous session. Investors cannot short stock in 150 companies in the Taiwan 50 Index, the Taiwan Mid-Cap 100 Index and the Taiwan Information Index from Sept. 22 to Oct. 3.
* USA:
-- The U.S. Securities and Exchange Commission has temporarily banned short selling in the stocks of 799 financial companies. The ban will stay in force until Oct 2. (Writing by Jijo Jacob. Editing by David Cutler and Andy Bruce)
Fear and Greed: Premise for Capitulation and Overreaction [View article]
Don't tell me that shorts make any positive contribution. If they are so beneficial to markets, why are they now banned in over 20 countries?
Try again. maybe someone will believe you.
What Happened to the Fed's $1.816 Trillion Lifeline? [View article]
What Happened to the Fed's $1.816 Trillion Lifeline? [View article]
This is totally disingenuous:
"...Notice that the ban on short selling didn't stop WaMu and Wachovia from falling 95% after the ban was put in place...."
Don't insult our intelligence. It's obvious the shorts destroyed, perhaps irreparably, confidence in the market.
By the time the ban went in effect, the blood had been drained from these entities.
The SEC needs a robust uptick rule that can't be thwarted by computer trading, and it needs to banish shorts, or at least curtail them severely.
Five Reasons RIMM Will Continue to Fall [View article]
Well, the chickens have come home to roost, haven't they?
Fear and Greed: Premise for Capitulation and Overreaction [View article]
Rapacious shortselling hedgefunds nearly ruined the economy based on lies and innuendo.