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Yesterday, SEC Commissioner Cox responded to the pressure. The SEC instituted a "Hard T+3 Close-Out Requirement," meaning that short sellers and their broker-dealers must deliver securities by the close of business on the settlement, three days after the sale. It's an answer to previous complaints about the prevalence of so-called "naked" short selling: that is, selling shares that you don't actually have in hand, and have not made arrangements to have. Naked shorting allows traders to potentially manipulate stocks. The SEC is also considering an emergency order forcing hedge funds, which employ short selling...
...short sales. And outfits including Goldman and Morgan Stanley are no strangers to going short in their proprietary trading strategies. All the short sellers are going to do is make the market react faster, he says. "The question is, Can the short seller take a firm down? The answer is no. Not by themselves. If there is nothing fundamentally wrong, all you need is a couple of smart people on the other side to show that they're wrong," says Asquith...
McCain: Temper of the Times Although I am troubled by the refusal of Senator John McCain to answer many of the questions asked of him, the emphasis TIME placed on that aspect rather than on his answers on the issues is another example of the media's liberal bias [Sept. 8]. I was disappointed that the vast majority of your interview with McCain was devoted to his "prickly" attitude, when the full version of the interview on TIME.com had much more substance. Alanna Rice, Council Bluffs, Iowa...
...Your special issue on the republicans bent over backward to present McCain as an honorable man, but the transcript of your bizarre interview, in which McCain refused to answer simple and legitimate questions, was frightening. It showed a resentful, uncommunicative and uncooperative McCain who was uncomfortable with the straight talk he used to be known for and who had a chip on his shoulder the size of a sequoia. Such a volatile temperament renders him unfit to have his finger anywhere near the button. Lee Otterholt, Laguna Beach, Calif...
...couldn't McCain simply provide his definition of honor? He misjudged this opportunity by failing to realize that the answer was for those who have not read his books. Read your book, McCain? We've decided to read Obama's. Jay Fenwick and Cindy Norris, Boone...