Begs the question: Who the ASS can we blame now?

Wait - maybe the list was just too small. At 799. Happily the SEC has thought of this and expanded the order to allow exchanges to add to the list. Dow Jones reports tonight on the New York Stock Exchange's process for achieving this:

"Blast emails were sent to more than 2,500 NYSE-listed companies Sunday afternoon asking if they qualified to be on the short-sale ban because they are in the banking, insurance or financial-service business. Since the NYSE had no quick way to determine which of its members are in the financial business, it asked firms to self-certify that they are financial companies, subject to verification by the NYSE.

Further expansion of the list appears likely."
I'd not question that last line. Nor the possibility of a SEC Compulsory Buying Directive.

And self certification - what a grand idea! Wonder if they ever thought about that in the mortgage lending industry.


Link of the Day:
Short Sellers Keep the Market Honest

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