Cox Stiffens Rules on Naked Short-Selling

Photo: Amazon

It's not as funny as it sounds. SEC chairman Christopher Cox banned naked short-selling effective tomorrow morning, in order to protect Morgan Stanley and Goldman Sachs from market manipulators who may or may not be murdering them right about now. Of course, he did the same thing back in July to try and help out Fannie Mae and Freddie Mac, and that didn't work out super well. [Bloomberg]

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