Some Firms Request To Be Removed From Short-Sell Ban List

Clusterstock:

The no-short-selling list created by the Securities and Exchange Commission continues to change, as do the rules themselves. On Monday Diamond Hill Investment Group pulled itself off the list. Yesterday JMP Securities also exempted itself. Today Greenlight Capital Re, Ltd., a reinsurance holding company whose Chairman is David Einhorn, the most prominent critic of Lehman Brothers, yanked itself from the list.

Why would a firm remove itself from the list? Len Goldberg, the CEO of Greenlight Capital, told us it wasn't a tough decision.

"It's prety simple really. We believe our shareholders are better off by having the market determine our stock price," Goldberg said. He added that the company hadn't suffered since coming off the list. "In the extreme short-term, we certainly haven't suffered. Today we're up 2%."

Read the whole story: Clusterstock

Comments

[lvdragonlady]

Not just NO but H3LL NO.
You are on the list for a reason and will stay there until this country is back on it's feet.

America - stand up and be counted. We have suffered long enough.

[bk13]

the only solution to the economic crisis facing the us is:

1. the dismantling of the federal reserve
3. outlawing of fractional reserve lending
2. monetary reform

down with the federal reserve!!! we should not be paying interest on our own money!!!

don't know what i'm talking about? watch and be ready to have your mind blown.

http://video.google.com/videoplay?docid=-515319560256183936
http://www.themoneymasters.com/

please watch this documentary. people need to know this

[nibblybits]

It's hard to take this kind of ridiculous talk from people who have no idea how the financial markets work seriously. Wanna get rid of the Fed? Then we need to get back on a gold standard, in which each and every dollar in circulation needs to be backed by gold held by the govt. Good luck with that.

[dadw5boys]

THE SEC IS BLOCKING THE SHORT SELLS OF HEDGE FUNDS ????????

THEY HOLD THE DRIVATIVIES THE 2ND MORTAGES AND GRABAGE !!!!!!!!!

[RushLiberal]

YUP - True Republicanism - Republicans want their Golden Parachutes when they F-up and they continue to give the American People Golden Showers.

NeoCONism at its best!

[pandaemonia]

The companies that want off the list are those that know that short seller (not naked shorts) keep the market honest. It was not the shorts that created this, they were just the few people who REALLY knew what was over-inflated and going to burst. Companies that WANT to be protected from short sellers are effectively saying that they may tank, they may not make it i.e. they have no confidence in their abilities to run a company and those that want OFF this nanny-state regulation are the companies that put their money where their mouths are.... they are being as transparent as possible by requesting the government to stop "protecting" them.

It's so easy to blame a concept, a product that few understand, for all the problems when there's a less attractive, simpler bunch of factors to blame.....

[Wiredwilly]

No way. Forget these shysters. Make America Great. Eliminate ALL short selling.

[KillTheMessenger]

Yep, that's gonna fix it. Not.

[NTO08]

Wiredwilly is right...cut out the gaming by these slime buckets...

It seems we have gone through this time and time again in the last 20 years...Wall Street is intent on engaging in corruption...the temperment and climate of the firms who created this debacle is such that they thrive on engaging in shady risk taking. NO MORE! Nip these loud mouthed SOBs in the bud now.