SEC Plans to Temporarily Ban Short-Selling
SEC Plans to Temporarily Ban Short-Selling
WASHINGTON — The Securities and Exchange Commission took its most aggressive assault against bearish stock bets by stating its intention to issue a temporary ban on short-selling.
SEC Chairman Christopher Cox briefed Congress late Thursday of the agency’s intention to take the extraordinary step of interfering with the market’s regular functioning. Short-selling is a trading strategy of selling borrowed stock in hopes it falls and can be repurchased at a lower price.
Well, that’s one way to prop the economy up. Can’t see anything wrong with this! Seems totally fine.
Sigh.
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