Cox and the SEC are taking away profit — and creating new problems. First among those, is this any kind of a list that a bank wants to be on? Even if it does, the new rules unfairly protect a limited number of financial firms and leave others — Washington Mutual Inc. and Wachovia Corp. , to name a couple — exposed. “This naked short selling has been a pervasive problem for a number of years,” said Jane Storero, a partner and securities attorney at Blank Rome. The move to curb naked shorts for a limited group of firms “raises the question [of whether the move is] going to protect them or hurt them? Or is it going to hurt the next tier of banks?”Here are the securities identified in the Commission’s order: BNP Paribas Securities Corp. BNPQF or BNPQY Bank of America Corporation BAC Barclays PLC BCS Citigroup Inc. C Credit Suisse Group CS Daiwa Securities Group Inc. DSECY Deutsche Bank Group AG DB Allianz SE AZ Goldman, Sachs Group Inc GS Royal Bank ADS RBS HSBC Holdings PLC ADS HBC and HSI J. P. Morgan Chase & Co. JPM Lehman Brothers Holdings Inc. LEH Merrill Lynch & Co., Inc. MER Mizuho Financial Group, Inc. MFG Morgan Stanley MS UBS AG UBS Freddie Mac FRE Fannie Mae FNMMichael Covel: News & Info.
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