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Gold/Mining/Energy : Esprit Exploration Ltd.
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To: no1coalking who wrote (2676)8/11/2008 1:11:20 PM
From: no1coalking   of 2774
 
Hedge funds alone in fight against short-selling curb

"What's more, South Dakota voters will decide in November whether to approve an initiative that the state's securities director says would ban all short selling. The group sponsoring that action promises to get similar initiatives on ballots in 18 other states if the SEC doesn't put more restrictions on short sales."

You got to be kidding me!

Banning all short sales is the most asinine thing I have ever heard of. You and me shorting is not the problem. Its the SEC and DTCC that are refusing to take the FTD problem seriously because they are involved in the naked shorting scam that plagues our markets. The market needs shorting as much as it needs buying. Banning short selling is stupid and will make the market suck. We already have rules in place to handle the Naked shorting problem but the SEC refuses to to follow its own rules and the DTCC has all the information available to show who is doing the illegal shorting but they are complicit and do more to cover it up than to help solve the problem.

Its just corruption as usual on wall street and us little guys are the ones taking up the chuff!

Banning shorting is not the answer. Thats like banning birth control because some one had sex.
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