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Strategies & Market Trends : NetCurrents NTCS
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To: Teresa Lo who wrote (149)10/3/2000 7:45:31 AM
From: Patrick Slevin  Read Replies (1) of 8925
 
<The bottom line is that it's somehow un-American to sell, and in particular, sell short>

The distain for short-selling was inflamed during the Depression and was particularly railed against by Hoover in the late '20s. During the Depression Wall Street organizations were slammed heavily in radio and print by Mid-West isolationists, New Dealers who painted them as fast-buck artists looking for quick profits. Short-Selling was made more difficult as a result of laws passed at the time. In 1932, Hoover actually asked the president of the Exchange to discourage it and the SEC rose as a result of a committee conducting an inquiry into the practice of Short-selling.

It's likely that the sentiment carries over from that period.
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