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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (398869)7/15/2008 1:57:35 PM
From: tejek  Read Replies (2) of 1578748
 
More incompetence from the Bush administration.....well may be not incompetence but rather.......oh hell who knows what these hee haws are doing.

New Rule: Enforce the Old Rule

By Jim Cramer
RealMoney.com Columnist
7/15/2008 1:32 PM EDT

Short-selling alert. The govermment is going to enforce the rules about borrowing stock first and being able to deliver the stock or risk being bought in if you don't.

Now, strangely, SEC Commissioner Chris Cox made this rule sound like it is something that is being put in place right now. In actuality, it's been in place for years but just lightly enforced. Oddly, he is talking about it only being applied to Fannie (FNM - commentary - Cramer's Take) and Freddie (FRE - commentary - Cramer's Take). In reality, he can enforce it with all stocks.

Oddly, this administration has been hardwired against this enforcement, but with the destruction of the financials, aided by bear raids (small "b" but it might as well be big "B"), Cox actually is now going to do enforce the old law!

I don't get these guys at all. They had this ability to do this all along and they have been against it. But when you wreck Fannie and Freddie, they wake up.

At least for 30 days. Can you imagine, a 30-day emergency order to exercise the power that it already has!

At the time of publication, Cramer had no positions in the stocks mentioned.
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