The SEC Has Lost All Credibility

Discussion in 'Wall St. News' started by libertad, Jul 24, 2008.

  1. Wow....the short sale restrictions worked like a charm today ...did they not?

    The worst one day decline in financials in 8 years.....today.....with the emergency provisions in place.


    Secondly, the SEC wants to increase regulations.....after the calamity has ocurred.....what good are regulations now?

    There are two organizations whose time has come to be completely eliminated....

    SEC
    IRS

    Others to go soon....USDA....and many many more.


    What a joke !!!!!!! Forever FO !!!!!!!!
     
  2. Mvic

    Mvic

    Excellent commentary Libertad :) Agree completely.

    It could be that the critics of the short sale rule were right, that having the short sellers out of a stock creates a potential airpocket under the price as there are no shorts covering to provide some support to the stock. Does anyone track options closely enough to know if puts have become more expensive on the stocks in question since the rule went in to effect? Is there an execption to the rule for option MMs to hedge their short puts?
     
  3. Brandonf

    Brandonf ET Sponsor

    I was unaware that they had any to lose.
     
  4. Daal

    Daal

    purchase-only mode is the next step. we cant allow unpatriotic selling manipulate this market, we all know the banking system is safe and sound
     

  5. Except Oil. We have to have a selling only policy. Can't have those greedy longs pushing up prices! :D
     
  6. Well, at least the SEC is keeping us all safe from the likes of...


    ...Optiver Capital LLC.

    LMAO!!!
     
  7. That's why Cox was threatened that if he didn't grant the OptionMaker Exemption, no NYSE Monday. When he allowed that, all bets were off. It just took a while.

    All you have to do is look at OSTK. Off the SHO, on the SHo, Off the SHO, Bear Raid Friday, T+4 was today. Back on the list.

    You should be asking, "how can this happen?" It is illegal by the '34 act. Why is it allowed at all? Rhetorical question, mind you. But ask anyway.
     
  8. Mvic

    Mvic

    That was truly pathetic, makes them look like a laughing stock.

    If I am not mistaken short selling is illegal on the shanghai exchange and yet it has managed to fall over 50% (perhaps because of) no short selling.
     
  9. I'm telling ya, Cox has gotta quit reading the Yahoo mb. They messed with the interest rates a while back. Remember the emergency cut right on options expiry day. Then we had the PPT messing around, thought there was a secret lunch or sumpin (Crudele wrote about that one). Now Byrne is munchin corn on the Cox with his naked short remedies.

    Stay tuned....
     

  10. That was the CFTC.

    The've caved into the pressure from washington to "find something"



    Actually, I think this may have been a smart move on the cftc's part.


    I think they were trying to send a message to congress to fuck off. They are showing that the only manipulation found from all that hard work they did investigating was some rinky dink outfit that was trying to screw around with the close, profited a cool mill, and had no effect on long term prices. They even tried to manipulate the price DOWN. Laughable.
     
    #10     Jul 24, 2008