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Wednesday, October 01, 2008

SEC Extends Short Selling Ban

by Calculated Risk on 10/01/2008 10:54:00 PM

From the SEC: Statement of Securities and Exchange Commission Concerning Short Selling (hat tip Interesting Times)

Temporary prohibition of short selling in financial companies.
This order will be extended beyond its currently scheduled expiration, to allow time for completion of work on the anticipated passage of legislation. It will expire at 11:59 p.m. ET on the third business day after enactment of the legislation, but in any case no later than 11:59 p.m. ET on Oct. 17, 2008.
Oh well ... this is still dumb.