No More Shorting Of Financials In Europe... Ever?

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Wed, 09/28/2011 - 13:36 | 1718937 papaswamp
papaswamp's picture

Fo Eva...bitchez!

Wed, 09/28/2011 - 13:44 | 1718975 Ahmeexnal
Ahmeexnal's picture

now that's what I call a rigged market.
a sad attempt to delay by a few seconds the inevitable eurocalypse.

Wed, 09/28/2011 - 13:45 | 1718983 redpill
redpill's picture

They should just outlaw all selling, it's inhuman!

Wed, 09/28/2011 - 13:47 | 1718998 junkyardjack
junkyardjack's picture

Tax all sales of stock at 75% whether its a profit or a loss you still have to pay taxes on your loss like it was a gain, effective yesterday.  That'll keep the market afloat

Wed, 09/28/2011 - 13:52 | 1719016 DoChenRollingBearing
DoChenRollingBearing's picture

As the Bearing rolls ever so slowly to the door...  Seeking real assets...  First rats off the ship win!

Wed, 09/28/2011 - 14:04 | 1719054 Pladizow
Pladizow's picture

So where will the shorters turn?

This will simply be played by shorting US financials!

Good night BAC!

Wed, 09/28/2011 - 14:07 | 1719073 Steroid
Steroid's picture


Wed, 09/28/2011 - 14:20 | 1719128 Ahmeexnal
Ahmeexnal's picture

"multiculturalism has failed"

Wed, 09/28/2011 - 14:42 | 1719220 TruthInSunshine
TruthInSunshine's picture

This is just one additional, incremental step to project a brave face of confidence onto equity/banking/financial markets, because they wouldn't feel the need to resort to this unless everything was very healthy and stable and liquid - which it is.


Wed, 09/28/2011 - 14:50 | 1719251 Manthong
Manthong's picture

.. and in other news,  the European Center for Nuclear Research in Geneva, Switzerland  announced today that it is immediately  repealing the laws of gravity and in Rome, a press release from the Vatican states His Holiness , the Pope has reached an accord with Satan that relinquishes authority over all of the souls within the European Union to him.

Wed, 09/28/2011 - 15:33 | 1719413 mick
mick's picture

Try the deutsche bank short european financials etf.  Still trading, if you fancy the counterparty risk.

Wed, 09/28/2011 - 14:17 | 1719117 arizona11912
arizona11912's picture


Wed, 09/28/2011 - 14:08 | 1719063 fuu
fuu's picture

They see me rollin' They hatin' Patrollin' they tryin' to catch me shortin' dirty. Tryin' to catch me shortin' dirty.

Wed, 09/28/2011 - 14:43 | 1719210 tekhneek
tekhneek's picture

Well looky there: (

Tue, 09/27/2011 - 12:21 | Link to Comment tekhneek
tekhneek's picture
Vote up! 3
Vote down! 0

Next up: No short selling... after that? Owning gold and silver is illegal.

After that... price controls... and after that? Confiscation.

1 for 4 so far...

Wed, 09/28/2011 - 15:14 | 1719340 DoChenRollingBearing
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Wed, 09/28/2011 - 13:54 | 1719018 gojam
gojam's picture

Junkies fear cold turkey.

Same goes for ceasing shorting bans and ceasing snorting plans

Wed, 09/28/2011 - 16:21 | 1719557 Zero Govt
Zero Govt's picture

The politicians only want 'Up' so they're banning 'Down' ...problem is without any downs there's no ups, it's a flatline ...put another way, the market has no buyers or sellers, it's a Dead market.. extinct ...a Pythonesque "Dead Parrot"

Now when politicians ban shorts you know it's time to go short... and the only way to go short (now) is to get out of the market... I think the politicians have painted themselves into a corner on this one.. another work of genius from our 'leaders' collapse 100% guaranteed, how do we short this???

Wed, 09/28/2011 - 14:48 | 1719248 disabledvet
disabledvet's picture

I like that! What are we dis-incenting then? Hmmmmm. Food comes to mind. What else? Oil? Yep. How 'bout we just "turn it off' instead? We can do that you know.

Wed, 09/28/2011 - 13:54 | 1719020 Comay Mierda
Comay Mierda's picture

selling is unpatriotic!

Wed, 09/28/2011 - 14:32 | 1719171 Leopold B. Scotch
Leopold B. Scotch's picture

So too is "saving".

Wed, 09/28/2011 - 13:46 | 1718989 LeBalance
LeBalance's picture


/just suggestin'/

Wed, 09/28/2011 - 14:08 | 1719080 Young Buckethead
Young Buckethead's picture

North Carolina Governor Bev Perdue says we should suspend Federal elections. Peter Orszag, former Director, OMB,  says we need "less democracy". Less than a week after the ZH comment about the well-publicized German book saying "democracy is an enemy of the people".

We are either going to "voluntarily" ask for Martial Law, or . . .

All so the people that created this absolutely fucked mess can stay in power.

We are witnessing the end of the United States, and every human being that ever died defending this country is having their graves pissed on.

Every symbol of the old US will have to be destroyed, otherwise it will be a reminder of what was, and will be seen as inciting revolution. Let them try to shove that down our throats.

Wed, 09/28/2011 - 14:40 | 1719216 pods
pods's picture

Sorry, Perdue made a joke and Drudge ran with it like she wears Jack boots.

She does wear Jack Boots, but wasn't expressing an honest desire to suspend elections.

And why the hell would they suspend elections?

That is the hope that the sheep hold on to.  The hope that elections will change things.

Elections are to keep the masses placated, not to change anything.


Wed, 09/28/2011 - 14:47 | 1719243 Hedgetard55
Hedgetard55's picture



     So, you are one of the dopes that believed that spin about a joke.

Wed, 09/28/2011 - 15:16 | 1719346 pods
pods's picture

Well I guess I am since I live here, and happen to use my mind to think.

So a sitting governor who is pretty much hamstrung by the state congress announces plans for suspending elections at a Rotary Club meeting?

As I said above, elections are for public satisfaction, nothing else.

Look at how much energy here is wasted on the game of politics.  The arguments about debt reduction, etc.

We have not, as a nation, applied one penny to paying down the principal of our national debt in 50+ years.  

It is a game of self delusion. Our debt supply is our money supply.

To decrease our debt would decrease our money supply.  So it won't happen.

That is why we will not have a "balanced budget" while the economy is contracting, strike that, expanding less than the aggregate level of interest on the debt.

Because our debt supply MUST expand or we die.

We have been programmed as a people to KNOW when tyranny arrives. Tanks in the streets, etc.  Because that will NEVER come.

If it did, we all would know tyranny has arrived.  

Same with suspending elections.  As long as the sheep hold on to the noble idea that voting changes things, we WILL have voting.

Religion is not the opiate of the masses, the hope that elections can change things is.

Sorry for the long rant.  Short answer, yes, I am a dolt that believes it was a joke.



Wed, 09/28/2011 - 17:22 | 1719827 Rumpelstiltskin
Rumpelstiltskin's picture

Just listen to the audio and then say, with a straight face,

that it was a joke. I dare you.

Wed, 09/28/2011 - 17:45 | 1719898 New_Meat
New_Meat's picture

Ya, and Peter Orszag made the joke in "New Republic" linked in this WAPO Story, so you know its true.

- Ned

Wed, 09/28/2011 - 14:51 | 1719263 disabledvet
disabledvet's picture

With spike heels? And a leather tank top? I'm kinda picky when it comes to fascists too.

Wed, 09/28/2011 - 18:39 | 1720084 Leopold B. Scotch
Leopold B. Scotch's picture

Well... then again, the founding fathers of the United States were no fans of democracy.  What they wanted was LIBERTY. 

The U.S. is NOT a Democracy, it is a Constitutional Republic, with said Constitution intending to preserve individual liberty by enumerating limited powers of the government, the rest reserved for the individual and states, whose constitutions themselves handled things similarly at the time, although asserting varying degrees of power against the individual.  Some states respected liberty more than others.

Democracy and Liberty are not synonymous. 

We are too quick to defend the raping of liberty by democracy.  Democracy can be shit, or it can be marvelous.  Generally it degrades into chaos. Democracy launders all sorts of shitty behavior that would land you in jail if you did it as an individual to others.  Put it to vote, win in an election, and use the same tactic on a specified group lacking political clout to defend itself, and democracy says "perfectly legal"....

Wed, 09/28/2011 - 14:37 | 1719194 zorba THE GREEK
zorba THE GREEK's picture

Without short sellers there is no short covering, hence no floor under

the market. Baning short selling is one of the most effective ways to

drive a market down. Who knows, maybe that's the plan?

Wed, 09/28/2011 - 15:29 | 1719401 NotApplicable
NotApplicable's picture

All while blaming the market, TADA!

Wed, 09/28/2011 - 13:47 | 1718995 WALLST8MY8BALL
WALLST8MY8BALL's picture

Short sellers got no reason
Short sellers got no reason

Short sellers got no reason
To live

They got little hands
Beady Little eyes
They walk around
Tellin' great big lies
They got little noses
And tiny little teeth
They wear platform shoes
On their nasty little feet

Well, I don't want no short sellers
Don't want no short sellers
Don't want no short sellers
`Round here

Short sellers are just the same
As you and I
(A fool such as I)
All men are brothers
Until the day they die
(It's a wonderful world)

Wed, 09/28/2011 - 13:37 | 1718939 Racer
Racer's picture

oh those naughty shorters, they are the cause of all the problems....

Wed, 09/28/2011 - 13:41 | 1718966 Nascent_Variable
Nascent_Variable's picture

Damn shorters indeed.  Sitting at a government desk in Athens for a couple years, then retiring with full gvoernment benefits. Those short term workers are killing the...

Wait.  What are we talking about again?

Wed, 09/28/2011 - 14:40 | 1719214 pirea
pirea's picture

Not only Greece, here in BC, Canada, some government leaders, retired from plitics after 2 years of service, with serverance of $400,000-600,000.

It is an universal blood sucking for the parasites.

Wed, 09/28/2011 - 15:31 | 1719409 NotApplicable
NotApplicable's picture

Weird thing is, the sheeple demand parasites. So, until they relent, parasite on!

Wed, 09/28/2011 - 13:37 | 1718944 HelluvaEngineer
HelluvaEngineer's picture

Hmmm...might be a great time to short the ones over here.  I hear a creaking and moaning sound coming from ES.

Wed, 09/28/2011 - 15:36 | 1719422 NotApplicable
NotApplicable's picture

A great time? As in the old saying, "the market can remain irrational longer than you can remain solvent?"

Trying to time a market is one thing, and a casino another. But trying to time a fraud? That's just playing into their hands, picking up pennies in front of a bull dozer.

Wed, 09/28/2011 - 13:37 | 1718945 Motley Fool
Motley Fool's picture

Thou shalt not short. haha.

Wed, 09/28/2011 - 13:38 | 1718952 Tim Knight from...
Tim Knight from Slope of Hope's picture

And the law of unintended consequences shows itself yet again.

Wed, 09/28/2011 - 16:04 | 1719514 fuu
fuu's picture

Cue the Rain!

Wed, 09/28/2011 - 13:39 | 1718954 faustian bargain
faustian bargain's picture trying to catch rain in a sieve...

Wed, 09/28/2011 - 13:39 | 1718955 SheepDog-One
SheepDog-One's picture

No one to squeeze just hastens the big drops coming...good.

Wed, 09/28/2011 - 13:43 | 1718957 baby_BLYTHE
baby_BLYTHE's picture

Dr. Webster Tarpley said banning short selling is the one of the best moves the Modern State can make to fight back against the globalest banksters. I myself don't understand the concept too well, is he wrong?

Wed, 09/28/2011 - 13:50 | 1719005 LeBalance
LeBalance's picture

Webster does not understand that the Modern State is a creation of the globalist banksters.  And even within that illusion the market allows one to bet "long" so of necessity if it is to be "fair" it must allow one to bet "short."  Otherwise it is not a market, is it?

Wed, 09/28/2011 - 13:55 | 1719023 Josh Randall
Josh Randall's picture

Naked short selling should be banned, but short selling in it's simplest form is just a part of the financial capitalist market

Wed, 09/28/2011 - 14:04 | 1719059 kaiserhoff
kaiserhoff's picture

Naked selling of puts is by far the best way to buy stock, but you have to have a couple of nickles to play the game.

Wed, 09/28/2011 - 14:44 | 1719231 pirea
pirea's picture

Why bet when in fact you should invest. Want to bet, go to casino.

Wed, 09/28/2011 - 16:07 | 1719521 ThirdCoastSurfer
ThirdCoastSurfer's picture

I used to be an "investor".  

That is until, as a common shareholder, I watched all my due diligence fly out the window to an endless series of stock dilutions, senior debentures and punishing bridge loans that had little to do with protecting the common shareholder but everything to do with pandering to the momo while spending money on pet projects like they were shovel ready in Iraq. 

Few CEO's give a damn about common shareholder equity. Why the hell should they work for free when they can pander to power and share in the wealth. 

Who among you has ever sent so much as a card of thanks for a decent return when, like K street, the investment community lavishes gifts upon the heirs as if they were royalty? 


Wed, 09/28/2011 - 13:53 | 1719006 DoChenRollingBearing
DoChenRollingBearing's picture

@ b_B

THAT is a good question, and I do not know the answer.  I think I'll look into it.  Good reporting.


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