Attorney General of New York State, Andrew Cuomo talks about short selling while an analyst believes that the Dow will fall to 8000 in a months time. Following are today's top videos:
“We’ve been talking all afternoon about the possibility that the Treasury was exploring an RTC-type solution—Haven’t been able to get confirmation. However, the Treasury doesn’t want to get too far out on front.”
—John Harwood, CNBC Business News
Cuomo on Short Selling
“Short selling itself is not illegal, as you know, many argue that it’s a productive part of the marketplace. There can be behavior that is illegal, however, if you are spreading false information, if you’re trying to drive down prices for your own economic benefit. And we’ve had complaints about that, which is what we’re looking into.”
—Andrew Cuomo, Attorney General, New York
Dow to Fall to 8,000 In the Next Month
“Unfortunately, I think we’re headed for bad news in the next two to three weeks. And I think another sell-off is in the making. My actual price target for the Dow is 8000, and I expect it will be reached within a month.” —Edward Loef, Technical Analyst, Theodoor Gilissen Bankiers
Pimco Proposal for Markets
“We need a regime shift in policy for things to improve. So the first regime shift that I was telling you about was going from domestic to global. And today, we’re seeing the first part of that. The second regime shift, which we haven’t seen yet, is to go to a package of policies.”
—Mohamed El-Erian, Co-CEO, Pimco
Stop Trading, Listen to Cramer!
“I’ve talked to a lot of short seller today and the traditional people who are allegedly shorting are not. They’ve read the rules; they’re not doing it. They come back to say: “It could be financial terrorism—what a way to take down America.” I think this has to be put on the table [for investigation] because the regular short sellers are not doing this.”
—Jim Cramer, CNBC’s Mad Money
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