let me on the short list !!! puleeeeeeezzzeee !!! UnKle Samacheklovowski
Started by
nimblebear
, Sep 19 2008 03:45 PM
2 replies to this topic
#1
Posted 19 September 2008 - 03:45 PM
I posted on this very topic earlier today, and posted the short list and siad why isn't GE on it, or why aren't the other CEO's sceaming for the same thing ? Plus if they open the books and show who is shorting a stock, and CEO's see it, they can retaliate and sue the pants off the shorter. (but alas as usual that post got "censored" as likely this one will too.)
Could see this coming for a country mile. After this it will be airlines, auto mfg's, and many others. They can only do it by sector supposedly, and they can't do the broad market. (Why ?!? Not ?!?) This is now the United Socialist State Republik of America....
Companies try to scramble aboard SEC lifeboat
GE, CIT ask to be on list of stocks that can't be shorted, Amex may ask too
By Alistair Barr, MarketWatch
Last update: 4:21 p.m. EDT Sept. 19, 2008Comments: 4SAN FRANCISCO (MarketWatch) - Several companies tried to climb aboard the Securities and Exchange Commission's short selling lifeboat on Friday.
Under pressure from Wall Street executives, the SEC banned short selling of roughly 800 financial-services stocks on Friday to try to halt a market meltdown. See full story.
Companies omitted include General Electric Co. (GE:General Electric Company
Sponsored by:
GE 26.62, +1.83, +7.4%) , American Express (AXP:American Express Company
AXP 40.40, +2.68, +7.1%) , Capital One (COF:Capital One Financial Corporation
COF 56.05, +2.05, +3.8%) , and CIT Group (CIT:CIT Group Inc
CIT 11.16, +0.46, +4.3%) , which all have huge financial-services businesses.
For GE, financial services make up about 45% of its overall business. A person familiar with the situation said the company has talked to the SEC about possibly being included on the list. American Express, one of the largest credit card companies, said it was just beginning to look into the possibility of being added.
CIT Group, a leading commercial lender in the U.S., "made a formal request to be added to the list," spokesman Curtis Ritter said in an email to MarketWatch.
Guaranty Financial Group Inc. (Ticker: GFG) said Friday that it should be added to the list too. Guaranty said it is the second largest publicly-traded financial institution holding company headquartered in Texas and one of the 50 largest publicly-traded financial institution holding companies based in the U.S. ranked by asset size.
OTIS.
#2
Posted 19 September 2008 - 05:28 PM
What would happen if a company came out and said take us off the list?
#3
Posted 19 September 2008 - 05:40 PM
What would happen if a company came out and said take us off the list?
People would get pysched out and be afraid to short them ?
OTIS.










