Bravo German Chancellor Angela Merkel for banning naked short selling! It´s healthy for World Economy.
German Chancellor Angela Merkel said she would lead a campaign for a tax on financial markets at the next meeting of the Group of 20. Photo: AFP
About two years ago, the short-selling the train wreck in the U.S markets began to pick up speed, prompting SEC chairman Christopher Cox to invoke a one-month ban on July 15, 2008, against naked short selling in 19 battered financial stocks, including Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), Citigroup (NYSE: C), Lehman Brothers (OTC: LEHMQ), Credit Suisse (NYSE: CS), Merrill Lynch (DOA, as in dead on arrival), Bank of America (NYSE: BAC), J.P. Morgan Chase (NYSE: JPM [FREE Stock Trend Analysis]), Fannie Mae (NYSE: FNM), and Freddie Mac (NYSE: FRE). The following from FinancialWire(tm) contributor, Susanne Trimbath, applauds the German Chancellor for carrying the anti naked short selling torch, READ MORE HERE