July 25, 2008
Wonder why Freddie and Fannie shorts are down 98% and the other financials are down 85%? Could it be that sloppy back-office short-sale non-borrowing has something to do with this?
Obviously the SEC was correct in believing that illegal actions were occurring and unduly influencing the prices of these stocks.
This new SEC 'pre-borrowing' rule should become effective for all stocks as soon as possible. The treatment for longs has never been like this so why should it be any different for shorts?
Steve from Atlanta