I proper short sell all the time. You didn't go thru my 4000 posts to search that out? What I oppose is a system that honest citizens with factual data are shunned because the vested interests are so paid off, that they can't even act in the interests of their own Country. This 'let them eat cake' philosophy' didn't work very well for Marie Antoinette, and they won't get away with it here.
I didn't say that. I make no guarantees on my attire. I work for myself. And if things don't pick up, I'm going to have to let myself go. Nice severance package though.
In a reply to Dole, he did actually address naked short selling in financials, and the damage they caused and how he had to act before they went to zero, even with 'good financials".
naked short selling in financials, huh? All were easy to borrow and the short interest in bank stocks declined 3% from a peak of only around 20-24% at its peak in July. In July, when they were restricted to pre-borrow, they were easy to borrow and the rebate never changed on them throughout that period. So, where are all these phantom abusive naked short sellers in financials? The truth is that the only problem Cox sees is that he's about to be stripped of his job because he's unfortunate enough to be the commissioner when the market is going down. He was burning the midnight oil trying to concoct bullshit that will keep him out of the unemployment line - and if that meant burning down the house....well...that's a small price for us to pay to keep him employed.
also, if there are so many "good financials", then why do they all need a trillion dollar bailout? Let the good financials buy the bad ones. The short ban is a racket and the SEC is a racketeer. Pure and simple.
when he is gone he will be missed as short sale rules become more onerous if not banned altogether. uptick rule will be reinstituted to the benefit of hedge funds and exchange members.