Short Selling Targeted

Discussion in 'Wall St. News' started by nitro, Feb 16, 2006.

  1. nitro


    "08:50 New York Post reports Naked Shorting Targeted

    The New York Post reports that two state securities regulators have issued subpoenas to get at the trading records of Wall Street's largest firms in a quest to stamp out the controversial practice of naked short-selling, sources said. Utah and Connecticut regulators' first line of attack will be to get Wall Street firms' trading records via the Depository Trust & Clearing Corp. The Post states that regulators will be looking for the trading and customer ledgers of Bear Stearns, Morgan Stanley and Goldman Sachs. Connecticut's subpoena asked for information on four companies "with a strong connection to the state," sources said. Utah, on the other hand, requested a large amount of market-wide data regarding alleged naked short sales."

  2. (1) Nothing will come of it. (2) Institutional investors & regulators only bitch and moan about short-selling near market bottoms. (3) Thanks for the buy-signal Nitro!