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Bad News Ban Is Very Bad News
The SEC … said in a statement early Friday morning it is halting short selling on 799 financial stocks. The ban, which is effective immediately, is set to last for 10 days, but could be extended for up to 30 days.
That is, they have banned speculators from giving bad news about 800 finance companies. Which seems to me to be very bad news about those companies – sell! If not for the first amendment, would they also ban TV, newspapers, etc. from saying anything bad about these companies?