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Friday, September 19, 2008

Financial Terrorism: SEC Bans "Short-Selling" Of Stocks

Is our current financial meltdown in part the result of an attempt, by people outside the United States, "to take down America".




Cramer on short sellers
by burghnews



From the Associated Press:


WASHINGTON - The Securities and Exchange Commission took the dramatic step early Friday of temporarily banning the routine practice of betting against company stocks.

The move, announced on the agency's Web site, may well be unprecedented and a reflection of regulators' concern about the widening scope of the financial crisis as entreaties come from all quarters to stem a swarm of short-selling.

In the announcement, the commission said it was acting in concert with the U.K. Financial Services Authority in taking emergency action to "prohibit short selling in financial companies" to protect the integrity of the securities market and boost investor confidence.

"The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets," SEC chairman Christopher Cox said in a statement. "The emergency order temporarily banning short-selling of financial stocks will restore equilibrium to markets."


The California Public Employees' Retirement System, the nation's largest pension fund, said that starting Thursday it is no longer lending out shares of Goldman Sachs Group Inc. and Morgan Stanley, joining a growing number of public pension funds that are attempting to curb short-selling of two investment banks' stocks.


Financial Jihad.

Will some good come out of this crisis? Will this crisis make our public officials aware that "Islamofascists" will attempt to use more than planes to bring down the structural architecture of America?
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posted by Pastorius at permanent link#

3 Comments:

Blogger heroyalwhyness said...

This poses a very serious question.

Diana West's opening statement in her latest piece in Townhall begins with the words:

"With Wall Street convulsing, . . ."

Convulsing is so apropos.

Arab petro dollar investment diversification efforts& Sovreign Wealth Explosion from recent energy price gouging & market speculations are flooding the market siezing every opportunistic venture surfacing this convulsion. (see Atlas for more.)

It is imperative that financial institutions re-evaluate the most recent shell game advanced in the name of Islamic piety . . .as stated by Hugh Fitzgerald:

". . .Islamic economics has trivial economic import but poses a substantial and malign political danger."

Every employee in the financial sector should be compelled to become familiar with Timur Kuran's indispensable study, "Islam and Mammon" a brilliant book by Timur Kuran, written when he was (ironically, given heavy Saudi backing for Islamic economics) King Faisal Professor of Islamic Thought and Culture at the University of Southern California.
Now teaching at Duke University, Kuran finds that Islamic economics does not go back to Muhammad but is an "invented tradition" that emerged in the 1940s in India. The notion of an economics discipline "that is distinctly and self-consciously Islamic is very new." Even the most learned Muslims a century ago would have been dumbfounded by the "Islamic economics."


Is anyone on Wall Street or in Congress paying attention?

I get the sick sensation that Politicians and Wall Street are in full blown election cycle political expediency CYA mode. . .and not at all seeing this tree in our national security financial forest.

Friday, September 19, 2008 2:36:00 pm  
Blogger heroyalwhyness said...

I forgot to include this link:

Saudi fatwa against the dollar Dec 17, 2007

Friday, September 19, 2008 3:05:00 pm  
Blogger Epaminondas said...

Naked short selling which is a practice specifically banned lends itself PERFECTLY to an economic attack.

This is now banned on all stocks, not just financial ones.

PERFECTLY.


So, who was it?

Friday, September 19, 2008 3:27:00 pm  

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