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LATEST POLITICS VIDEOS


Current DateTime: 07:29:26 23 Nov 2008
LinksList Documentid: 25590758
    • Executive Decisions 

        Discussing President-elect Barack Obama's progress following the election, with Greg Valliere, Stanford Financial Group; Andrew Parmentier, FBR Capital Markets; and CNBC's John Harwood.

    • Stocking the Cabinet 

        President-elect Obama furiously works to fill his cabinet, reports CNBC's John Harwood

    • Bailout Failout 

        Discussing the automaker bailout fallout, wiht Dan Clifton, of Strategas Research Partners; Jared Bernstein, of the Economic Policy Institute; and CNBC's John Harwood

    • Obama's Next Move 

        Discussing what the president-elect's next move should be, with Keith Boykin, of The Daily Voice; Michael Farr, of Farr, Miller & Washington; and CNBC's John Harwood.

    • The New Washington 

        A look at the Democratic changing of the guard on Capitol Hill, with CNBC's John Harwood

    • Criticizing Auto Chiefs' Jet Use 

        Rep. Bradley Sherman (D-CA) criticized the auto heads for taking private jets to Washington to plead their case.

    • Drive for Money 

        Discussing the auto industry's big push for capital in Washington, with CNBC's Jane Wells, Phil LeBeau & Scott Cohn.

    • Big Three on the Brink 

        Insight on the Big 3 on Capitol Hill on Wednesday, with Rep. Spencer Bachus, (R-AL); Rep. Barney Frank, (D-MA) and CNBC's Larry Kudlow.

    • Bankruptcy vs. Bailout 

        Discussing why Detroit shouldn't be bailed out, with Andrew Ross Sorkin, The New York Times; Andy Weiss, Center for American Progress; and Tony Schnelling, Bridge Associates.

    • TARP & Turf Fight 

        Sparring Over the TARP, with CNBC's Diana Olick & Carmen Wong Ulrich.

    • The Next Act 

        The $700 billion TARP plan also getting attention on Capitol Hill, with Steve Bartlett, Financial Services Roundtable president.

    • A Good Case? 

        Assessing whether the Big 3 made their case well, with CNBC's Phil LeBeau, Scott Cohn, Rebecca Jarvis, Bill Griffeth and Andrew Ross Sorkin, The New York Times.

SEC to Limit Short Sales of Major Financial Firms
Reuters | 15 Jul 2008 | 01:40 PM ET
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The U.S. Securities and Exchange will issue an emergency rule later Tuesday to stop "naked" short selling in major financial firms, including Fannie Mae and Freddie Mac, the SEC said.

Short sellers borrow shares they consider overvalued and sell them. If the price drops, they repurchase the shares, return them and pocket the difference.
CNBC

The rule would require any person making a short sale in the listed securities to borrow the securities before the short sale is effected and deliver the securities on settlement date.

The new restrictions were first announced by SEC Chairman Christopher Cox during testimony before the Senate Banking Committee.

"Today the commission will issue an order designed to enhance protections against naked shortselling in the securities of primary dealers Fannie Mae [FNM  Loading...      ()   ] & Freddie Mac [FRE  Loading...      ()   ]," Cox said. "The emergency order will provide that all short sales of the securites primary dealers Fannie & Freddie will be subject to a pre-borrow reqiurement."

Copyright 2008 Reuters. Click for restrictions.

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