WASHINGTON AP-The federal government, trying to boost investor confidence in the face of a market crisis, took the unprecedented step Friday of temporarily banning a practice of betting against financial stocks.The move by the Securities and Exchange Commission will temporarily ban what is called short selling of 799 financial stocks.
September 19, 2008 at 12:00 AM
1 minute read
WASHINGTON AP-The federal government, trying to boost investor confidence in the face of a market crisis, took the unprecedented step Friday of temporarily banning a practice of betting against financial stocks.
The move by the Securities and Exchange Commission will temporarily ban what is called short selling of 799 financial stocks. The rule took effect immediately Friday and extends through 11:59 p.m. EDT on Oct. 2.
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