- Maine Caucuses a Chance to Right the Romney Ship
- Greece Warns Bailout Rebels of Dangerous Path
- Greek Cabinet Approves EU, IMF Bailout Bill
- MF Global Trustee Sees Shortfall of $1.6 Billion
- Iran to Announce 'Very Important' Nuclear Progress
- We're Not Greece: Italian Prime Minister Monti
- Private Homebuilders in the US: Dead Men Walking
- Dividend Payout Could Hit Record Amount This Year
- With Investors So Bullish, Stock Pullback Must Be Ahead
- In Search of America's ‘Hottest Forecasters’
- Dow vs. S&P 500: Which is a Better Investment?
- Mick Fleetwood on the MP3 ‘Dumbing Down’ of Music
- Avis on the Road to Strong Growth: Analyst
- Private Homebuilders: Dead Men Walking
- LinkedIn’s Growth Is Already Priced In: Analyst
- The Real Reason Behind Bank of America’s Rally
- 5 Hedge Funds’ Top Stocks Soar After 2011 Rout
- This Valentine’s Day Love Is Served on a Silver Platter
MOST SHARED
- Greece Warns Bailout Rebels of Unknown, Dangerous Path
- Forty States Sign On to Foreclosure ‘Robo’ Settlement
- We're Not Greece: Italian Prime Minister Monti
- EU Finance Ministers Won't Get Fooled Again
- Italy's Mario Monti One-on-One
- If The Federal Reserve Is Abolished, What Then?
- How Rescuing Greece Could Destroy the World
MOST POPULAR
HOT ON FACEBOOK
The Financial Crisis: This Day—One Year Ago, Sept. 19, 2008
Text Size 
On Friday, the market rollercoaster continues—and seems to end up nearly where it began.
 |
And Federal Deposit Insurance Corp. Chairman Sheila Bair predicts more US bank failures as the global credit crisis continues.
What You Were Reading:
- Paulson Calls For 'Decisive' Asset Relief Plan
- 'Fast Money' Traders: Warren Buffett and the Crisis
- Poll: Should Short-Selling Be Banned?
But Mohamed El-Erian, co-CEO of bond giant Pimco, holds out hope. He tells CNBC that as of last night (Thursday), the US government's approach to the credit crisis has shifted from piecemeal to comprehensive planning and that should breed confidence.
Part of that coordinated planning is the SEC's temporary ban on short selling of 799 financial stocks. Short sellers have been criticized, some say unfairly, for the woes of Bear Stearns, Lehman Brothers [LEHMQ
Loading...
()
] and AIG [AIG
Loading...
()
]. Indeed, the ban does seem to be having positive effects on the market — though one veteran observer warns that such effects may be illusory.
What You Were Reading:
- See Full List of 'No-Short' Companies
- David Faber: GE Likely Next on 'No-Short' List
- Pisani: What's Next, Banning LONG Buying?
"I think yesterday was the most credible rally we’ve seen this year. It had that stampede effect that I’ve been looking for," Art Cashin, floor operations director at UBS, tells CNBC.
 |
The Dow finishes up nearly 370 points and 140 points of that could be attributed to four financials that are on the short-selling ban list: AIG, Citigroup [C
Loading...
()
], Bank of America [BAC
Loading...
()
] and JPMorgan Chase [JPM
Loading...
()
].
Is this the stock-market bottom? "Too early to say," Cashin says. "Watch the bank lending rate—that’s where the whole game’s played out in the next week."
What the Experts Were Saying:
Short sellers are being unfairly targeted for the collapse in the financial sector, said Jim Chanos, of Kynikos Associates.
George Milling-Stanley, World Gold Council director, tells how the precious metal is reacting to the market pendulum.
The Week and You: Courtney Reagan reports on the meltdowns, the panic and surprising stock advice from CNBC's guests.
- Marketing clichés aside, sometimes diamonds are for investing.
- The ‘Fast Money’ traders weigh in on fashion related stocks from apparel to footwear.
- This list of the 10 most active cities for speed traps was compiled by Trapster.com. See if your town is there.
- This Valentine’s Day should prove a love fest for restaurants, as many couples will be dining out.
- Here’s a look at Westminster Kennel Club’s most successful breeds—and how much they cost.
- What kind of homes do celebrity couples share? Here’s our updated list. Take a look.
Data is a real-time snapshot *Data is delayed at least 15 minutes
