Posted on 07/27/2009 3:42:57 PM PDT by Flavius
WASHINGTON (AP) -- Federal regulators on Monday made permanent an emergency rule aimed at reducing abusive short-selling, put in at the height of last fall's market turmoil.
The Securities and Exchange Commission announced that it took the action on the rule targeting so-called "naked" short-selling, which was due to expire Friday.
Short-sellers bet against a stock. They generally borrow a company's shares, sell them, and then buy them when the stock falls and return them to the lender -- pocketing the difference in price.
"Naked" short-selling occurs when sellers don't even borrow the shares before selling them, and then look to cover positions sometime after the sale.
(Excerpt) Read more at finance.yahoo.com ...
whats is the current scam
how are the hedge funds whats left of them going to push down and toxic lend their victims to bankruptcy
what is the new scam that we are going to read about in 10 yrs
thnks
Funny, that’s how Goldman killed AIG.
thats what i mean
its nice that they are moving onto something else
i just like to know what the current scam is
Well I think it hasn’t quite been nailed down yet but I’m thinking about providing a securitized way to buy and sell politicians - buy enough futures on one and you take delivery of a promise at vote time. It should come in handy as gooberment take over more of our lives.
AIG killed themselves, or at least FP killed AIG. They were writing bad policies on worse paper, and they new it. The music was eventually going to stop, and someone was going to be left without a chair. AIG just made sure it was themselves (stupidly) instead of someone else.
Before the last confidence scheme blew-up, I'm sure some other MIT whiz-kid thought up the next fraudulent investment strategy. This is never going to stop until they (the Fed and US Taxpayer) let more than a token bank fail.
I’m sure the SEC, assisted by that stellar self-regulator FINRA (pka NASD), will do a bang-up job of enforcing these regs.
I feel more confident already.
/s
You are right. AIG was writing checks they knew they couldn’t cover. Goldman knew it too. Sadly, so did Paulsen. The US taxpayer ends up covering this fraud from all involved. Treasury and the Fed are just as much criminals as the AIG mgmt.
This is all about the next big scam, I am convinced of it. They are merely running through our financial lives making us crazy so we will not have the focus to stop their health care take-over.
There is just too much obfuscation at once. The BS with Israel, the police race BS, the non-stop “stimulus” BS, and more. It is just a smoke screen. Oh, they want to do all of the above, but the largest pot of gold is the one seventh of our economy called health care. They want it. The Chicago political machine is licking their chops over it.
Some folks are railing against High Frequency Traders. Don't know if that would be considered a scam, but it certainly puts the little guy at a huge disadvantage.
Carbon credits, if Congress passes the Waxman-Markey bill.
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