• 05 May 2009 at 12:51 PM

We Are Totally Serious This Time And I’m Not Kidding

By

Charging full speed ahead into a world of “up-only” equities, the SEC is back on the evils of short-selling band wagon. And you can believe we are going to get some results this time. Deliberate and thoughtful results. The kind of results that get results.

The head of the Securities and Exchange Commission said Tuesday she is making the issue of new rules restricting short-selling a priority as the agency hears from an array of interests about ways to limit trades that bet against a stock.
Investors and lawmakers have been clamoring for the SEC to put new brakes on trading moves they say worsened the market’s downturn.
“I have made it a priority to evaluate the issue of short-selling regulation, and ensure that any future policies in this area are the result of a deliberate and thoughtful process,” SEC Chairman Mary Schapiro said at the start of a public “round-table” meeting organized by the agency.

SEC chief says new short-selling rules a priority [The Associated Press]

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Comments (61)

Older Comments
  1. 1
    Posted by guest | May 5, 2009 at 12:56 PM

    Close the markets! Obama to close the markets next week.
    -TGFH
    (The Guy From Houston)

  2. 2
    Posted by guest | May 5, 2009 at 12:57 PM

    I say while they’re at it, let’s also ban long selling. Watch the markets roar!

  3. 3
    Posted by guest | May 5, 2009 at 1:00 PM

    Can I get a borrow on SEC?

  4. 4
    Posted by guest | May 5, 2009 at 1:05 PM

    Pissani says the shorts are worried. The trend is up – so its all good. Just don’t look at the TNX, because the beard has no answers.

  5. 5
    Posted by guest | May 5, 2009 at 1:09 PM

    Close the markets! Obama to close the markets next week.
    -TGFH
    (The Guy From Houston)

  6. 6
    Posted by guest | May 5, 2009 at 1:11 PM

    @2: agreed. If it’s good enough for the Oracle it’s good enough for me.

  7. 7
    Posted by guest | May 5, 2009 at 1:14 PM

    Why not just enforce rules regarding naked shorts? Are we really going to create additional rules because governing bodies have chosen not to enforce the rules already in place?
    What does the SEC do anyway?

  8. 8
    Posted by guest | May 5, 2009 at 1:17 PM

    markets going down is un-patriotic and un-american, almost french..

  9. 9
    Posted by Anal_yst | May 5, 2009 at 1:20 PM

    @7 Yes, they are, and nothing, respectively.
    Also, as @3 said, how can I get short the SEC?

  10. 10
    Posted by guest | May 5, 2009 at 1:23 PM

    “135 “Anyone who tries to make sense of it is ridiculed or receives outright motivational calls from assorted Czarist departments.” http://tinyurl.com/dm77l9
    Posted by: Ver E. Grumpy at May 05, 2009 12:17 PM ”
    http://tinyurl.com/cxsfdb

  11. 11
    Posted by guest | May 5, 2009 at 1:23 PM

    Nice.
    Better:
    I am going to make it a priority to…
    I have made it a priority to…
    It is now a priority to…
    (But we can do zip really … fraudsters are really smart people and can usually stay ahead of us for years until something out of the blue tumbles the racket.)

  12. 12
    Posted by guest | May 5, 2009 at 1:31 PM

    In Episode 7 of the CNBC/Discovery Channel joint venture reality show about job switching, “Deadliest MBAs”, the MBA captain of the Cornelia Marie returns to the docks with a 0.03% catch of Opies in the hold and wonders why, given current market conditions, the dock personnel are laughing at him. On the Northwestern, a plan is hatched to extract female and juvenile crab from the catch and get Moody’s to rate them “adult males” which can then be securitized and sold OTC under the symbol CON. The Sea Witch springs a leak and the Coast Guard flies Congressperson Waters to the scene who shouts at the MBAs via a megaphone that the concrete raft dropped to the MBA crew is from “Goldman Sack”. Back in Connecticut, Sig cooks smelt on the SAC fryer and forbids the quants from making claims that “they got smelt in Connecticut.” In Manhattan, Capt. Hillstrand gets in a fight entering the building when security thinks he’s a homeless guy. Moi shows the quants what happens when you wave a magnet close to a computer monitor screen. Capt. Phil Harris calls Sec’y Geithner and wants to know if it is OK to hang fixed income traders for cause.

  13. 13
    Posted by guest | May 5, 2009 at 1:31 PM

    Guido beach time yo
    http://www.youtube.com/watch?v=kyAzwREVBZs

  14. 14
    Posted by guest | May 5, 2009 at 1:35 PM

    14 Fairness is for suckers.
    Sincerely,
    The U$ Govt.

  15. 15
    Posted by guest | May 5, 2009 at 1:44 PM

    @7 they work so that their pals at 85 Broad can steal from us with as little trouble as possible

  16. 16
    Posted by Lowly Assistant | May 5, 2009 at 1:48 PM

    “[...]Sig cooks smelt on the SAC fryer and forbids the quants from making claims that ‘they got smelt in Connecticut.’ In Manhattan, Capt. Hillstrand gets in a fight entering the building when security thinks he’s a homeless guy. Moi shows the quants what happens when you wave a magnet close to a computer monitor screen.”
    12,
    Perfect.

  17. 17
    Posted by guest | May 5, 2009 at 2:10 PM

    My dream is to one day pound a secretary in her ass on the rooftop of 85 Broad.

  18. 18
    Posted by pdtrading | May 5, 2009 at 2:12 PM

    Amen to number 18

  19. 19
    Posted by guest | May 5, 2009 at 2:23 PM

    @12 should be DB’s new writer.

  20. 20
    Posted by guest | May 5, 2009 at 3:21 PM

    12 Won
    special cameo by 18

  21. 21
    Posted by KevinB | May 5, 2009 at 3:26 PM

    While they’re at it, why not ban exhaling along with short selling? Inhaling is good – it brings oxygen into your body. Exhaling is bad – it puts more dangerous greenhouse gases in the atmosphere. From now on, inhale only – it’s the American way!

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