Belgium, France, Italy, Spain Overrule European Regulator, To Impose Standalone Short-Selling Bans

Stop the presses. Barely did we have time to report that European regulators failed to impose a coordinated short selling ban, that Bloomberg reports that the countries most impact by the market plunge are about to impose standalone short-selling bans. These are Belgium, Italy, Spain and France. In other words, it really is on and the 2008 Lehman PTSD flashbacks may now resume. Until we get a headline that says it isn't. The rescue of the Borsa Italian is now more schizophrenic than that of Greece. As a reminder, in the previous post the FT quoted Abraham Lioui, a professor at the Edhec business school in France, who said “It is the worst thing to do right now. This would signal to the market there may be something fundamentally bad that is happening."  He is correct. Something is fundamentally very wrong and about to break.

From the AP, google translated:

Short selling of financial stocks banned for 15 days in France

(AFP) - There are 13 minutes

PARIS - The Financial Markets Authority (AMF), Constable French stock exchange has banned short selling of financial stocks listed in France for a period of 15 days, told AFP, its president Jean-Pierre Jouyet.

"We have decided to ban short selling (...) on the actions of eleven banks and insurance companies listed on the French market, that for a period of 15 days," said Mr Jouyet.

And as a reminder, here is what happened to US financials after the September 18, 2008 SEC ban on shorting:

Comments

[Id fight Gandhi]

It won't work, never did.

[Popo]

Liquidity will dry up very quickly. Here comes the crash...

[johnQpublic]

the FIBS countries...lol

cue the soup nazi....

no liquidity for you!

[spiral_eyes]

For those of us who want some humour mixed in with our daily zero hedge doom and gloom:

"Europe Bans Shorts (Backside Now Exposed)"

http://azizonomics.com/2011/08/11/europe-bans-shorts-backside-now-exposed/ 

[macholatte]

A Little Black Humor......

Felonious Munk Presents: Stop It B!

http://www.youtube.com/watch?feature=player_embedded&v=mIOdlfWt1uw

[macholatte]

and not so funny.........

Nigel Farage on King World News

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/8/10_MEP_Nigel_Farage.html

[eureka]

In other words gamblers, speculators and vigilantes must be allowed to retain their freedom to destroy corporations and nations which have been rigged by the Giant Squid and other monsters of its likeness?

Exactly what kind of freedom and Libertarianism is that?

Let all "investors" lose when they misplace their bets - and don't allow Giant Squids to rig and sell crap as AAA and then secretly short it.

Better yet - remove the stock market as false symbol of "the economy" and national wealth - when all it is, is a casino for lazy fucks who want to get rich without creating or producing anything, and, of course more importantly and primarily the prime tool for the elite to enslave the people.

Bomb Wall Street - Free The World.

[walküre]

LAZY FUCKS

Well said!

[disabledvet]

actually this list is far longer than you realize. I just saw these folks lined up outside the NYSE for tommorrow's open:
http://www.youtube.com/watch?feature=player_detailpage&v=a3BRI7WFYVU
not looking good for the homegamers!

[DrunkenMonkey]

Amen, brother.

[Rhea]

FUKIBUS countries LOL

[New_Meat]

"Here comes the crash..."

http://www.youtube.com/watch?v=U6tV11acSRk

[Master Chef]

where's my cookbook

[Master Chef]

Hmmm, Euro markets positioning for a crash, US market regulators watching but not acting, riots in the UK while the police stood by, thats a RECIPE...

for a perfect storm

how long does it have to bake?

[In Fed We Trust]

And the dead give away of the week.

Matt Drudge posting a 6.66% loads in S&p on Monday.

I have 2 things to say . The odds of the market closing on that extant number are null. It was done on purpose.

And the media could of lied and .6.69 or 6.65 but they choice to implant a doomfull idea in your head .

Dow will be 800 on Friday. Goodnight

[Hulk]

Staying alive. same page. hate the BG's, but the song is appropriate

http://www.youtube.com/watch?v=SKdVq_vNAAI&feature=fvwrel

[Manthong]

Everything is alright now.

http://www.youtube.com/watch?v=MBy9vDsPP0E

[Number 156]

Here it comes. Now, Mr. Spock.

[Pay Day Today]

Question is, who is gonna get caught with their britches down?

[westboundnup]

Our shields are dropping!

[scatterbrains]

yea but you gotta luv that intitial burst higher.

[Raynja]

if only somehow i could figure out what is happening after the fifteen days are up.  all i can think of is a hole.

[New_Meat]

u can look at later '08

[Raynja]

i was more looking for the bernank put to be re-announced in 17 days after a weekend of hookers and blow

[Gordon Freeman]

Yeah, but, but, but...Ron Insana just gave us the all-clear on Fast Money...

What a fucking tool!!

[Rainman]

Damn foolish Eurohumans ....only the Leaning Tower of Pisa and breast implants defy the laws of gravity.

[LongBalls]

Funniest thing I have heard all day!

[johngaltier]

Not in the E-commUne. Seems they prefer lack of any market action to legitmate price movements. We should shut the whole scoreboard off just like third grade basketball. Everyone's a winner! Scariest thing is, the US proves more left leaning than the FIBS, they are following our lead.

[Rodent Freikorps]

Time will win in both cases.

Even the Great Pyramids are temporary. Even the sun is temporary.

[Cheesy Bastard]

Michael Jackson still looks the same, though.

[WonderDawg]

You Bastard. I almost choked. Classic.

[IQ 145]

No, of course not. It's probably just in time for the reaction rally. A medicine for the illness that already curing itself; but perhaps not. Certainly the Europeans are nervous in the service.

[Goldtoothchimp09]

no short bids under the market -- suicide!!  Hey man nice shot

[gangland]

what budd dwyer did, i highly recommend for the 535 + 9 + wh.

http://media.photobucket.com/image/budd dwyer/weaselaow/motivation/BuddDwyerLulz.jpg?o=10

http://www.youtube.com/watch?v=o9mJ82x_l-E

http://12160.info/video/budd-dwyer-suicide

[Jendrzejczyk]

How 'bout at least a last link "graphic-not suitable for all audiences" heads (blown) up.

[KowPie]

Last audio: "Someone call an ambulance, a doctor and the police." He's past all three before he hits the floor, that was a river running out of his nose. Guess he preferred a lead breath mint to a shit sammich.

EDIT: was that real or was it a training video for Bernakenstein?

[UGrev]

that was disturbing..

[caerus]

here's the thread...short ban eh?

[JuicedGamma]

I love it when regulators panic.  Oh well tomorrow is going to suck no doubt.

[Drag Racer]

yea tomorrow will suck but monday will be a bloodbath.

[unky]

No, during the weekend Merkel and Sarkozy will agree to some new rescue shit and the CME will increase gold margins once again (at friday night maybe). Stocks will rally and gold will drop, everything will be fine  HAHAHA

[karzai_luver]

does Qdaffy still have any eternal!

[LongBalls]

unky has beat down!

[In Fed We Trust]

No I disagree . Since Obama was the bigger chosen for pawing the most bs on one term , I suspect Tim Geithner will announce the AMERO is heal to save the day. Will just need 1.5 trillion to fund it .

[Nom de Guerre]

http://www.youtube.com/watch?v=xSLlZh9yelk

[max2205]

That was quick. So what

[Threeggg]

The MSM say's this is extremely Bullishshit

[Republi-Ken]

NY TIMES GOT IT RIGHT

FIRST

[Sophist Economicus]

Even a Socialist blind pig...

[snowball777]

Makes for some damn good BBQ ribs.

[The Wolf]

There is no "i" in team...

[MsCreant]

E = Europe,

U = you

R = are

O = owe

I can haz short sale ban?

[johnQpublic]

France

Italy

Belgium

Spain

FIBS

[IQ 145]

that's clever. Unfortunately it seems to be about the level on which they are functioning.

[Rodent Freikorps]

And yet....there is a Me in Team.

[KowPie]

There is also an Eat Me if you can use e twice.

[Rodent Freikorps]

Team spells Meat backwards.

[nonclaim]

That's no something you say to a cow...

[disabledvet]

or sheep.

[caerus]

this isn't going to end well for them

[Cheesy Bastard]

Jenga!

[Manthong]

Unfortunately, we are all Europeans now.

[Rodent Freikorps]

I'm not covered in shit.

[SovietCong]

It's not clear what exactly was banned, though. Naked shorts?

[scatterbrains]

That's what I want to know.. all short selling or just naked short selling ?

[Sudden Debt]

AGAIN a error in the translation.

What it say is:

IT'S BANNED TO WALK NAKED ON THE EURONEXT EXCHANGE, SHORTS ARE OBLIGATORY!

[fyrebird]

ding ding ding we have a winner folks.

[Rick Masters]

HHhahaahaha +10000 dollars that was hilarious!!!!

[Freewheelin Franklin]

But it's OK to run.

I'm running with scissors!!!

[PY-129-20]

http://www.youtube.com/watch?v=JXceET3-awc

[IQ 145]

Official Google translation from Flemish. Do you still have the Silver in the trunk of your car? That image stuck in my mind. I'll never forget that even if I live for another two years.

[karzai_luver]

whatever still trades will be banned , give them a couple months.

[Ancona]

I want my mommy :-(

[hunglow]

classic

[Barry Mcokiner]

It's Mum

[caerus]

that's what i think...course naked shorting is always illegal right?

[Kat]

Oh, great.

Well, then I'm sure their stocks will rally now.  Move along.  Nothing to see here.

[Rodent Freikorps]

Numbers on a computer are the definition of ephemeral.

[drink or die]

Hey guys, I just got back from summer vacation on a deserted island.  What have I missed?

[caerus]

lol

[buzzsaw99]

Buttercup is marrying Humperdinck in a little less than half an hour...

[lizzy36]

lmao.

[JW n FL]

http://www.youtube.com/presstvglobalnews#p/u/4/y9qbjNNAafo

the IEA wants to inspect Dimona in Israel!

Iran lets the IEA in?

Israel NEVER HAS!! LOL

Lets Bomb Israel First!

[fonestar]

But if we bombed Israel wouldn't that mean that the middle east would more or less get along?  And then wouldn't that ruin the Zionist's "end-of-days" wet dreams?  Can you believe they call us the doomers?  LOL....

[Rodent Freikorps]

Oh, yeah. Arabs and Persians were BFF until Israel showed up.

Moron.

[nmewn]

And the PLO & Hamas...and the Shia & Sunni...and just about every other goat herder in Afgaaahhhnnneeestahhhn...lol.

Very peaceful folks ;-)

[New_Meat]

But, well, the Muslim Brotherhood, why they are the essence of civilized. - Ned

[Rodent Freikorps]

I can never figure out why stoning fags to death doesn't even cause a blip on American Libs radar.

[New_Meat]

Well, to coin a phrase, Libz have a mental disorder.  Ya gotta think through what is going on in the mind of Debbie Schulz.

I'm sorry, I presume that there is a mind, maybe our brother who hangz out in FLA might have information?

- Ned

[trav7777]

yes, they have a mental disorder.

Only crimes committed by white people are worthy of condemnation.  Nothing done by anybody else should be disapproved.

London riots?  Hardly covered...got pics of blacks forcing dumbass whites to strip naked in the middle of the street.  Not news.  RT covered it in its awesome blackness.  CNN?  Nah.  Flash mobs in the USA, Ohio, Wisconsin, Philly?  Nah, talk about flash mobs and show a picture of the white version, where people show up and do a dance routine.

So if a brownish person stones a fag, that's cultural sensitivity.  If a white person does something, ZOMG, roll 24x7 coverage.

I mean, FFS, they are cutting women's clitorises off in Egypt by the zillions, in saharan Africa as well...yet...we...hear...shit about it.  We just keep hearing about the same old holocaust shit on the Hitler Channel and the Jena 5 or 6 or wtfever and Martin Luther King.

It's almost as if the media is dominated by people who are both marxist and hate anglo saxons.