Call Him Deputy Attorney General Pitt
As chairman of the Securities and Exchange Commission, Harvey Pitt used to fume as state attorneys general started investigations of areas that he thought were the proper province of his agency. That...
View ArticleShort-Sale Conspiracies
Deutsche Bank has been hit with a $575,000 fine, and a censure, over its failure to abide by short-sale rules a couple of years ago. The settlement, announced Wednesday by the New York Stock Exchange's...
View ArticleGet Shorty
The S.E.C. stepped up its rhetoric against naked short selling today, and imposed rules that sound really tough. What they don't do is impose a reasonable financial penalty. Said the S.E.C.: "In an...
View ArticleTape Painting, As Aided by the SEC
The short selling ban may have helped money managers push some share prices up dramatically in the final minutes of trading today.
View ArticleEasy Come, Easy Go
The stocks that zoomed on tape painting at yesterday's close sagged today, Thank you, S.E.C.
View ArticleShort Squeeze
It's a new fashioned short squeeze. Porsche has found a way to make money from VW securities, even if it can't make money selling VW cars.
View ArticleNail the Shorts?
Panic is retreating, at least at the S.E.C. There was a lot of reasoned discussion today as the commission sought comment on restrictions on short-selling.
View ArticleIs Naked Shorting Gone?
In my Friday column, I report on data that seems to indicate the S.E.C. has solved the naked shorting problem. That data indicates that the number of failed stock trades - in which shares are not...
View ArticleAside From That, All Is Clear
A Chinese company defaulted on its bonds and was kicked off Nasdaq because it would not answer questions about its business. But its share price has risen 492 percent. Now the S.E.C. has halted trading.
View ArticleBulls and Bears Fight It Out, in Courts
Intrigue continues to circle around Silvercorp Metals, a Chinese mining company incorporated in Canada and traded in New York, with new investigations about its financial dealings reported.
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