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Italian Regulator Extends "One Week Only" Shorting Ban Through September 14 Due To "Persistent Conditions"
Europe is so fixed, and so jawboned to death, that the Italian regulator who launched this year's BanWagon episode of financial stock short selling bans with what was supposed to be just a one-week ban of shorting, has just extended the ban for nearly two more months, through September 14. The reason: "persistent conditions" - in other words Europe appears to be only fixed and stuff on a transitory basis. But yes, absolutely nobody could see this coming.
From Consob
Consob: extended until 14 September, the ban on short selling bank stocks
Consob, in view of the persistent conditions of uncertainty in financial markets, has today decided to extend until 18:00 pm Friday, September 14 pv the prohibition of short selling securities in the banking and insurance, introduced on 23 July with Resolution no. 18283 and expiring at 18:00 today.
The prohibition applies both to short-selling securities backed by loans ("covered") and "bare", already prohibited by resolution (No. 17993) 11 November 2011. Intermediaries are required to take all necessary measures and precautions to strict compliance with the measure.
It 'a duty to notify Consob without delay for those operators wishing to use the exemption for the activity of market making .
On site www.consob.it are available the full text of the measure (Resolution no. 18298 of July 27, 2012), the list of affected securities, the exemption for communications relating to the business of market making as well as FAQ (Frequently Asked Questions).
Rome, July 27, 2012
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like this is gonna help
One day they will ban all deposit withdrawals from banks also. I am sure that would make everyone feel really secured with whats going on.
They already did that on the 19th...for US citizens...for their protection.
http://www.bloomberg.com/news/2012-07-19/new-york-fed-says-withdrawal-li...
Make sure you aren't an old war hero though. You get erased like you've never existed.
http://www.dailymail.co.uk/news/article-2178849/War-veteran-lay-dying-st...
Really, baby, I'm only going to do it this once then never again. Well, except for that time and the time before and the next time or two. But really, I love you!!!!
who is this 'nobody' person?
he sees everything coming
maybe 'nobody' should be in charge
Persistent conditions.
Like AIDS, alcoholism, the wars on (fill in the blank), inequality, anal political commentary, financial hype, self centeredness, famine, hunger, disease, war, fiat money and stupidity but to mention a few.
Ought extend the bans on them all.
Agreed.
T'would do as much good
<delete>
Desperate times = Desperate measures
More to come.
ff
Command and control world..
http://silvervigilante.com
If Fed institutes an "open ended QE" it the same thing - a defacto short ban.
Then it will take 3.00 to generate a dollar in GDP, then 4, then 5 then 6....
When you are swirling the drain, the closer you get to the drain, the faster you spin
yeah, but them "dollars" ain't worth shit to start with - so what's your beef?
Silver Dollars, on the other hand...
Yeah that will fix everything. It certainly worked in the past /sarc
Italian regulars are idiots. They only need to talk about it, they never need to do the actual ban. All they have to say is "We will ban the shorts if the conditions worsen".
Ban all short selling till conditions improve.
Then ban all stock trading till conditions improve.
Then pound sand till conditions improve.
They didn't say September of what year.
It's a metric week.
I'm confused, the Equity Markets around the WORLD are rallying. Why the SHORT SELL BAN? Everything is fine we don't need anymore stimulus.
when you take away the antibiotics for a sickly body... all that is to come is atrophy in a masochistic society ?
Who on earth is stupid enough to invest in Italian stocks, banks and bonds? Greeks?! haha. There are a lot of great people there but the made men clearly run the show from the lowest street cleaner to the judges and everyone in between. I've been in that country many times and its cuisine is the best in the world; hands down. Invest in their women, wine and food but stay clear of absolutely everything else!
Perfect, now long selling will commence immediately.