Banks, Trade Groups Say that SEC Order Does Not Go Far Enough
Less than a week after Securities and Exchange Commission Chairman
Christopher Cox invoked the Commission’s emergency powers to regulate
short selling of positive stocks including Freddie Mac
and Fannie Mae, complaints were surfacing from financial institutions.
The complaints were not considering those financial institutions were on the
list of troubled banks in need of shoring up, but considering they were
not.
The American Bankers organization which represents the interest of
8,500
short sellers will now concentrate their efforts on banks that
are not covered by the emergency order and asked that…
Original post by Mortgage News Daily - Mortgage And Real Estate News
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