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SEC bans short selling on 799 Financial stocks

September 21, 2008 – 7:28 pm – No Comment

One day after the UK Financial Services Authority pulled a similar stunt, the SEC temporarily banned the short selling of almost 800 financial stocks. According to the ban, on October 3rd short selling can resume.
With the news on Friday, financial stocks rallied.
Here’s the list …

AIG bailed out by the Fed with $85 Billion Loan

September 17, 2008 – 8:40 am – No Comment

The reason for the bail out is that a failure of such a large insurer would disrupt the financial markets and could tip an already teetering economy.
AIG, American International Group Inc, will get up to $85 billion in a 2 year loan. The government …

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