Not satisfied with taking down the names of everyone shorting Italian stocks so it could give them disappointed looks and ask them if they feel good about themselves for making Nonna cry over her lost pension, Italian securities regulator Consob has started using a little “moral suasion” to get their buddies to cut them off.

Italy’s market regulator has recommended to stakeholders who have lent shares in Italian companies to retrieve them, Consob head said on Wednesday, confirming reports of a move aimed at curbing short-selling. “Yes, we’ve exercised moral suasion by asking all those who have lent shares to retrieve them,” Consob Chairman Giuseppe Vegas told journalists on the sideline of a conference.

He added the request was not binding.

If share lending dries up, short sellers will need to resort to naked shorting. Which, wait … still seems to be legal in Italy?

Italy regulator asks stakeholders not to lend shares [Reuters]

18 comments (hidden to protect delicate sensibilities)
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Comments (18)

  1. Posted by Texashedge | July 13, 2011 at 2:26 PM

    Consob? Really? That’s the name they went with?

  2. Posted by Corleone Capital Mgmt | July 13, 2011 at 2:26 PM

    You come to me on the day of my daughter’s wedding to recall my Intesa borrow?  What have I done to deserve this disrespect?

  3. Posted by Anonymous | July 13, 2011 at 2:32 PM

    In America I can sell shorts or pants, even outerwear. 

    -Jos. A. Bank

  4. Posted by bloombergradio | July 13, 2011 at 2:37 PM

    You mean JOHsef AYE BAYnk

  5. Posted by Guest | July 13, 2011 at 2:38 PM

    In Italy shorts mi scusi YOU!

  6. Posted by Anonymous | July 13, 2011 at 2:39 PM

    Leave the UCG. Take the cannoli.

  7. Posted by Anonymous | July 13, 2011 at 2:39 PM

    At the close of the informal confab, Vegas leaned in to one reporter’s dictaphone, kissed the mike, and whispered, “You broke my heart, naked shorts.”

  8. Posted by Put_Option | July 13, 2011 at 2:41 PM


    In these uncertain times its refreshing to know people like you and I are out there creating quality, yet affordable, men’s clothes that look good in the board room or on the beach. Our stores are even near each other on Madison ave in Midtown. We should combine our impressive textiles and business savvy. Because, let’s face it, the Italians know nothing of fashion. You’re going like the way we work together; I guarantee it.

    – George Zimmer

  9. Posted by Gues | July 13, 2011 at 2:42 PM

    If Italians stop lending their shares where will their income come from?

  10. Posted by Guesticles | July 13, 2011 at 3:12 PM

    Is there a single non-shit tier Italian bank? Do the Italians even have electricity?

  11. Posted by Michael | July 13, 2011 at 4:24 PM

    But the sec lender said no. The next day, Don Confab brought with him Luca Brasi to make him an offer he could not refuse. He assured him that either his securities or his brains would be on the inventory.

  12. Posted by guy who misses things | July 13, 2011 at 4:33 PM

    When is you next sale, I wouldn’t want to miss it?

  13. Posted by Bahaha | July 13, 2011 at 5:00 PM

    I’m laughing all the way to the bank….

    – JOSB shareholder

  14. Posted by Rocco Siffredi | July 13, 2011 at 5:17 PM

    They get electricity through your mother

  15. Posted by Anonymous | July 13, 2011 at 5:28 PM

    Yea. When? I need some sharp new suits since I will be working in Manhattan.

    -UBS MD

  16. Posted by Guest | July 13, 2011 at 5:40 PM

    I guess there’s only so much prosciutto.

  17. Posted by Greasy tufts of body hair | July 13, 2011 at 5:46 PM

    You shorta my stock, I breaka you face!

    -Guy with a last name ending in a vowel.

  18. Posted by I'm a Dude | July 13, 2011 at 8:57 PM

    Charles “Gasbag” Gasparino is my Luca Brasi

    -Consob Consigliere Giuseppe Vegas