From the Wall Street Journal: “Citigroup officials are lobbying lawmakers and the SEC to reinstate the expired ban on short selling of financial stocks, people familiar with the matter said.”
We hear they’re also lobbying for the uptick rule. At this point, we’re tempted to say the uptick rule should be revived just to make executives at failing companies quit whining about it.
You have to wonder if this helps or hurts investor confidence. When executives keep blaming shorts, it just shows they aren’t taking the challenges to their company seriously. And it certainly implies they aren’t planning any management shake-up.
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