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More eery similarities to the Great Depression
Tuesday, July 15, 2008
Many blamed the short-sellers for the stock market crash in 1929 and for difficulties in the following years in staging a rebound in equity markets. It looks like the SEC is trying to avoid that this time around.
4 comments:
It's not just the F twins. SEC also drafting an emergency rule to stop naked short selling for all stocks.
Wow, I'm sure that will work out just peachy. "Please don't try to profit on these stocks of companies that everyone knows are going to belly-up." I mean, when Schumer said there might be problems with IndyMac, that inspired confidence and a quick return to solid financial footing, right? Sending the implied message that the stock market is crashing is sure to turn it around... it's genius!
So who buys when everone wants out? I though it was the shorts providing a floor.
vipness
They could just, you know, reinstate the uptick rule. But that's crazy talk.
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