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Umpqua Holdings Corporation Message Board

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  • qniform qniform Jul 24, 2008 8:01 PM Flag

    Naked shorts

    Got it. Thanks Joe. I had never really analyzed the mechanism enough to realize the same shares were (had to be) counted twice.

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    • chickendog@sbcglobal.net chickendog Jul 28, 2008 4:14 PM Flag

      REGIONAL BANKS NOT INCLUDED

      The SEC order prohibits so-called "naked" short selling of shares of Fannie, Freddie and the 17 large investment banks. The companies' shares generally have gained since the agency's announcement.

      But shares of REGIONAL BANKS and investment firms nationwide have continued to be targeted, according to the American Bankers Association and other industry advocates.

      "It has been brought to my attention that securities of many financial institutions, particularly regional banks and (investment firms) that often have a close connection to the communities in which they operate, were not included in the emergency order and continue to experience increased short-selling," Rep. Spencer Bachus of Alabama, the senior Republican on the House Financial Services Committee, said in a letter to Cox last week.

      http://biz.yahoo.com/ap/080728/sec_short_selling.html?.v=1

 
UMPQ
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