This Is How It Starts, Hong Kong.


Hong Kong's Securities and Futures Commission (SFC) warned against abusive short-selling today which, of course, we are all for (abusive short-selling being curbed...not abusive short selling). The SFC issued this statement despite the fact that daily monitoring of the market indicates that short-selling activity is at the same levels as it was pre-financial crisis. This leads us to believe we (meaning Martin Wheatley, the SFC's Chris Cox) is headed down a slippery slope. Tomorrow it'll be a ban on abusive short selling. Thursday it'll be a ban on short selling in general. Friday, Wheatley is cutting $600 million checks for takeout food when he and his team burn the midnight oil to draft legislation establishing a fine for any adults who fail to buy at least 100 shares of each of the 10 stocks on the "mandatory longs" list.
SFC warns of action against abusive short selling [SFC]


New York, London, Hong Kong… Moscow?

Russia may have the kind of official corruption that would make a Sicilian blush, a fairly weak grasp on the rule of law, a pair of would-be czars trading its top two political posts and, now, more orphans than it can give away. It also may have a stock exchange worth as much as the big one with the columns down on Broad Street.