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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 …

Perhaps things aren’t looking as bad for WaMu.

September 17, 2008 – 3:30 am – No Comment

Even after the S&P lowered the savings-and-loan credit rating today Washington Mutual’s shares rose 16% higher than opening. WaMu was one of the largest profiteers from the housing boom and is now in trouble with the largest mortgage lenders going belly-up. There are even …