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U.S. securities regulators have extended through Aug. 12 an emergency rule aimed at curbing abusive short selling in the stocks of 19 major financial firms, including mortgage giants Freddie Mac and Fannie Mae.
If the Commission chooses to no longer enforce its naked short selling rule, the financials could be in some real trouble.
Short positions have dropped further in shares of the 19 financial firms targeted by U.S. regulators' emergency short-selling rule this week, a market data company said on Friday.
Congressman Gary Ackerman has introduced legislation to bring the regulation back. Check out what he had to say to Cramer.
The markets might not feel safe until the SEC puts this former regulation back on the books.
An emergency rule to curb abusive short selling will likely be extended beyond 19 major financial firms as pressure mounts on the U.S. Securities and Exchange Commission to broaden the measure.
Emergency action by U.S. regulators to rein in abusive short-selling in some large financial firms should be expanded to include the stocks of all public companies, a former top markets watchdog said on Monday.
The European Commission wants to cooperate closely with the U.S. Securities and Exchange Commission (SEC) on the planned regulation of credit rating agencies, the German financial weekly Euro am Sonntag reported.
Four billion dollars has been set aside to lure alternative-energy firms to the state.
Securities regulators from several states raided the St. Louis headquarters of Wachovia Securities, part of Wachovia, as part of a broad investigation into questionable practices involving auction rate securities, Missouri officials said.
Short-selling is a vital part of maintaining balance in the market, and people should stop viewing it as "evil" or "un-American", said Paul Roth, a partner at Schulte, Roth & Zabel.
This is not a time to get stressed about losing money – but to refocus on who is still generating sustainable earnings.
SEC's chairman Christopher Cox issued its emergency ruling against naked short-selling, and Wells Fargo reported surprisingly strong quarterly results and raised its dividends. Following are the day's top videos:
Why would the chairman of market regulation introduce a rule that already exists? The Mad Money host wants to know.
Stocks closed with huge gains as drop in oil prices boosted sectors previously battered by energy costs. Financials also moved sharply higher.
Stocks pushed higher as oil plunged for the second day in a row and financials staged an across-the-board rally that stemmed investor pessimism about the effects of inflation on the economy.
Goldman Sachs has been questioned by chiefs of rivals Bear Stearns and Lehman Brothers about speculation that the securities firm had a role in putting pressure on their firms' stocks, the Wall Street Journal said on Wednesday citing people familiar with their talk.
Actually, no. Too bad Chris Cox doesn't know that.
In verbal comments to the Senate, Mr. Cox said that he will institute an emergency order that will prohibit naked short selling in Fannie Mae and Freddie Mac. Naked short selling is shorting a stock without actually borrowing it.
The SEC, under heavy pressure for not responding more forcefully to a raft of rumors that have pounded stock prices of companies such as Lehman Brothers, has announced it will investigate rumor-mongering and stock price manipulation on Wall Street.