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The U.S. Securities and Exchange Commission banned short selling on 799 different stocks on September 19, 2008. The ban was announced on the agency's Web site. Short selling is the borrowing of stocks for a small fee with the purpose of selling them, buying the stocks again when their value goes down, making a profit on the price difference, and then return them to the owner. Some believe the act was one reason for the escalating financial crisis, especially the recent failure of several banks.ABC News: SEC Bans Short-Selling of 799 Financial Stocks
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Fast Facts
- On stocks in financial companiesABC News: SEC Bans Short-Selling of 799 Financial Stocks
- A temporary measureABC News: SEC Bans Short-Selling of 799 Financial Stocks
- U.K. Financial Services Authority announced a similar ban on the same dayABC News: SEC Bans Short-Selling of 799 Financial Stocks
- A 30-day ban on short selling of stocks from 18 large banks was in effect earlier in the summerABC News: SEC Bans Short-Selling of 799 Financial Stocks
- John McCain criticized SEC and its chairman Christopher Cox the day before for failing to prevent speculators that "turn the market into a casino"New York Times: S.E.C. Temporarily Blocks Short Sales... (September 19, 2008)
- A larger rescue plan for the financial crisis would be finalized during the upcoming weekendABC News: SEC Bans Short-Selling of 799 Financial Stocks
- {{Item: 2008 Financial Crisis}}
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Did the short selling ban make any difference? http://bit.ly/4DvEun
@creaweblogging | November 07, 2009 09:10 AM -
Regulator re-iterates short selling ban: The Financial Regulator has reminded brokers both at home and abroad t.. http://bit.ly/KK5SA
@thecivvie | November 06, 2009 07:48 AM -
Is the Ban on Selling Bone Marrow Unconstitutional? - New York Times http://short.to/vuci
@FrankCamaratta | November 04, 2009 01:14 AM
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Questions and Answers About Short Selling Ban | View All | Ask a Question
View All Short Selling Ban Questions (1423) | Ask a QuestionDid the SEC short selling regulation restrictions help fuel the recent stock rally, in 2009? (1 Answer)I don't think so. My guess is that it put the breaks on stocks that were under pressure, but did not correspondingly cause an increase in those prices. I think ... read moreWhen you short sell a home does the bank forgive you of the difference or make you sign a promissary note? (1 Answer)On some short sales the negotiator assigned may determine a promissory note may not be required for submitting a short sale offer to the investor/lender for approval. On other short ... read moreWhy is Youtube banned in Turkey and when was the last time it wasnt? Why? (1 Answer)The re-banning of Youtube in Turkey was for a similar reason as the first time. January 18, 2008 on Friday was when the second ban started. There's currently no date ... read more
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