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Politics : Ask Michael Burke

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To: ild who wrote (84021)	10/7/2000 1:09:22 PM
From: Knighty Tin	Read Replies (2) of 132070

ild, They probably know significant short selling interest on Naz stocks because they know the major market makers. Can you imagine this conversation: "Hi, Mother Merrill? This is your trader at Janus. You know, the guy who gives you $100 mil a year in commissions. You have the axe in Blimey Slimey Internut on the Naz. What is the outstanding short position?" "Sorry, Janus, we can't divulge that number." "Uh, the speed dial gizmo is just about to be thrown into the trash receptacle." <g> Somebody has to borrow the shares, as they have to be delivered to the buyer. Perhaps the hedge funds can get a sucker to borrow for them, but it doesn't sound logical. No, the uptick rule for short selling is about as fair as the US Olympic Committee's drug testing of superstar athletes. A bull market suits the govt's purposes. A lot of American medals suits the USOC's purposes.

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