name of the 1929 stock market trading regulation which recently was removed by the Bush administration?
This regulation was enacted after the 1929 stock market crash to avoid wild volatility in the market and to prevent excessive "shorting" on stocks. Late last winter, about 1st quarter, Jan-February- early March, the Bush administration quietly deleted this regulation. We have had market turmoil ever since. This issue needs to be widely publicized so that the situation can be corrected. many investors like myself, are averse to the kind of wild swings we have been experiencing since, and have opted out of the market, to avoid further. Jim Cramer explained this action on a daytime section on CNBC sometime after it happened. very few people are even aware that this has happened, while the market has careened with dangerous volatility. What was the name of this regulation? It began with a "B", such as Bostick, or something similar. This issue has not received the attention it deserves. I want the right name when I (and I hope other individual investors) email my Congressmen.
Comments
lol good news for hedge funds
It figures this stealth administration does whatever the hell they want. They are absolutely the worst pres./vice pres. in history or at least since I’ve been alive. Just a bunch of underhanded backstabbing devels..
June 27th, 2010 at 10:14 am
It was an SEC rule that revised certain pricing checks in short sales.
Originally, some rules were in place to prevent "bear raids"; jowever, now there are other protections in place.
SEC rules are not controlled by Congress. The SEC is an executive agency.
For more information on the rule, Regulation SHO, see http://www.sec.gov/rules/final/2007/34-55970.pdf