Friday, September 19, 2008

A probe into Short Selling

An article on AOL.COM states that

New York state is launching an investigation into whether some traders used illegal tactics to drive down the stock price of several Wall Street firms.

Short-selling is not illegal. But Cuomo said he will focus on whether short sellers engaged in conspiracy or spread rumors and bad information to influence the stock prices of Lehman Brothers Holdings Inc., American International Group Inc., Goldman Sachs Group Inc., Morgan Stanley and other firms that have been hammered in the ongoing financial crisis.

Kind of like shutting the door after the horse is out of the barn.

I will update later if I am not hiding under my desk !!

Good Luck and Good Currency Trading.


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