Word: saling
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...through a food market alley, and it has led me to believe that the further you can get away from the development that China so highly touts, the closer you can get to something you’ll want to remember. There were not only fruits and vegetables for sale but also frogs, turtles, eels, ducks, chickens with their heads cut off, and exotic items that words can’t do justice.I was strolling through when I saw a vendor pull a live snake from a bag, gut it, and hand it to a paying customer, who then headed...
...Freddie Mac and investment banks. On July 15, the SEC issued an emergency order temporarily mandating that anyone who wants to short a stock "must borrow or arrange to borrow the security or otherwise have the security available to borrow in its inventory prior to effecting the short sale." As Cox explained in an op-ed, "Our emergency order is not a response to unbridled naked short selling in financial issues - so far, that has not occurred - but rather it is intended as a preventative step to help restore market confidence at a time when it is sorely needed...
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...
...economic thinking, it is clear that in the case of Fannie Mae and Freddie Mac, and, now, American International Group (AIG), the Federal Reserve did what it needed to do to protect everyday Americans from serious financial trouble. Beginning last spring with its facilitation of the sale of Bear Stearns, which left taxpayers in the hole for $29 billion, to the August bailout of Fannie Mae and Freddie Mac—an action the Bush administration had repeatedly denied it would take in the past few years —to this week’s announcement...
...market’s downward spiral reflects a larger atmosphere of worry in light of the collapse and liquidation of Lehman Brothers and the sale of Merrill Lynch to Bank of America at the beginning of the week...