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The Dow rallied 250 points shortly after 1 pm ET when the UK government announced they were banning short selling in financial stocks until January, and would require hedge funds to reveal their short positions.
The Lehman bankruptcy sent waves of asset sales and capital raises throughout the system. One of the early casualties was the "Breaking-Of-The-Buck" at the Primary Reserve money market fund. However, there are numerous other ripples.
The Fed, the European Central Bank, Bank of England, Bank of Japan, Bank of Canada, and the Swiss National Bank are all pumping dollars into the global system. Fed made an additional $180 billion available to central banks to lend out.
The SEC is attempting to throw a curve at short sellers. Chairman Cox is asking the Commission to CONSIDER a disclosure rule that will require hedge funds and other large investors to disclose their short positions.
Don't let volatility scare you out of this market. There are opportunities to be had.
Cramer's been waiting for this federal regulator to stop the abusive short selling that's hurt so many stocks. At last, Chairman Christopher Cox has stepped up.
Lawmakers and experts are considering a longer-term legislative solution that would create a new agency to dispose of the mortgage-related assets at the core of Wall Street’s woes., the New York Times reports.
Ask Cramer and he'll tell you that the regulators didn't regulate. And that's why we're in this mess.
SEC Chairman Christopher Cox talks about Fannie Mae and Freddie Mac's stock movements while Sin City's gambling industry faces an economic earthquake. Following are today's top videos:
Three more more financial firms, including Merrill Lynch and Goldman Sachs, reached settlements over the sale of auction-rate securities, a $330 billion market that collapsed in February.
Merrill Lynch CEO John Thain met with New York Attorney General Andrew Cuomo on Thursday in an attempt to reach a settlement of the auction-rate securities probe, CNBC has learned.
Merrill Lynch reached a settlement with Massachusetts over auction-rate securities, the latest in a string a accords between regulators and Wall Street firms over the $330 billion market that collapsed in February
Merrill Lynch has until Friday to settle an auction-rate securities case with New York Attorney General Andrew Cuomo's office or it will face a lawsuit, Cuomo warned during a CNBC interview.
The Federal Reserve called Credit Suisse last month to check a rumor that the bank was preparing to pull a line of credit for Lehman Brothers, the Wall Street Journal reported on its web site on Thursday.
The top U.S. securities regulator plans to propose a new short selling rule in the next few weeks which would be broader than an emergency order covering just 19 financial stocks which ended last week
Billionaire investor Carl Icahn reported that he had increased his stake in Motorola to 144.1 million shares from 115.6 million shares the prior quarter. Meanwhile, George Soros raised his stake in Wall Street firm Lehman Brothers to 9.5 million shares.
A down day in Wednesday's market doesn't tell the whole story, Cramer says.
Lack of enforcement of key short-selling rules is going to bring back the pain we worked so hard to escape.
Short trading in 19 major U.S. financial stocks will revert to rules governing other shares Wednesday as a Securities and Exchange Commission experiment against abusive short selling expires.
Swiss bank UBS has agreed to buy back $19.4 billion of debt securities whose value collapsed during the global financial crisis and to pay $150 million in fines to settle charges it misled investors, Massachusetts' top securities regulator said.