SEC Bans the Selling of Financials at a Loss
Under new SEC rules, selling of financial stocks for less than the price purchased is to be banned.
The SEC approved the ban, which will prohibit investors from reducing or selling positions in all publicly quoted financial companies at values less than the purchase price of those positions. The ban will remain in force until such […]
The Government Takeover of Fannie and Freddie: Observations of an Unmitigated Disaster
Fannie Mae and Freddie Mac have been taken over by the government. This is an economic calamity of unprecedented proportions. Let me offer a few observations.
First, Treasury Secretary Hank “Bazooka” Paulson should immediately resign. Over the past few weeks as Freddie and Fannie have stumbled through huge losses, Hank went to Congress and stumped for […]