Wednesday, September 24, 2008

SEC Bans Negative Thoughts and Complaining

I don't know how I missed this, but 137 more companies were added to the ban on short selling (936 total now). GM & GE were added since their net incomes are highly dependent on financial transactions. Moody's was also added. Moody's ???? A rating agency? The one that is 19.7% owned by Buffet? Hmmmm, and Buffet invests $5 billion in GS 2 days later, a move that one would think bolsters confidence in the market? M & T Bancoporation was also added to the no short list (Buffet owns a chunk of this one as well), but this is bank after all.

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