You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #82: Bernanke Says There May Be Benefit to Uptick Rule [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
Robbien Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-25-09 04:07 PM
Response to Original message
82. Bernanke Says There May Be Benefit to Uptick Rule
Feb. 25 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said there may be a benefit in resurrecting a rule that restricts short-selling stocks when share prices are falling amid the current bear market.

In the kind of environment we have seen more recently the so-called uptick rule might have had some benefit, Bernanke said in testimony before the House Financial Services Committee today. The rule, scrapped by the U.S. Securities and Exchange Commission in 2007, barred investors from betting against a stock until it sells at a higher price than the preceding trade.

Bernankes comments may give credence to lawmakers such as U.S. Representative Gary Ackerman, a New York Democrat, who blamed the rules elimination for triggering attacks on financial stocks.

. . .

The SEC approved the rule in 1938 to prevent bear raids on companies. The agency eliminated the regulation after studying its effect on share prices and determining it was no longer relevant in markets dominated by fast-paced electronic trading.

There can be no recovery if the vultures are allowed to jump on every positive sign and short it to death.

Of course Cox fought hard against re-instating the rule.

Printer Friendly | Permalink |  | Top
  -STOCK MARKET WATCH, Wednesday February 25 ozymandius  Feb-25-09 04:38 AM   #0 
  - Market WrapUp  ozymandius   Feb-25-09 04:44 AM   #1 
  - It's all an illusion  DemReadingDU   Feb-25-09 07:58 AM   #16 
  - Today's Reports  ozymandius   Feb-25-09 04:47 AM   #2 
  - U.S. Jan. existing home sales fall 5.3% to 4.49 million rate - lowest in 12 years  UpInArms   Feb-25-09 10:10 AM   #38 
  - Petroleum Inventories Report (refined fuels are up)  UpInArms   Feb-25-09 10:11 AM   #39 
  - Oil near $40 as market digests Bernanke (foolish) comments  ozymandius   Feb-25-09 04:52 AM   #3 
  - Asian stock markets rise after Bernanke comments  ozymandius   Feb-25-09 04:55 AM   #4 
  - Big banks get ready for White House stress tests  ozymandius   Feb-25-09 05:01 AM   #5 
  - Some Slightly Good News: Feds Trying to Engage in More Serious Oversight of Citigroup  ozymandius   Feb-25-09 05:14 AM   #6 
  - Morning Marketeers.......  AnneD   Feb-25-09 08:11 AM   #18 
  - It's time for Citi to take one last trip to the beach... Chittagong!  Hugin   Feb-25-09 09:33 AM   #31 
  - Mysterious plans (by Paul Krugman)  ozymandius   Feb-25-09 05:25 AM   #7 
  - I'm with Krugman. It's a mystery how anyone can think that.. . . .  Tansy_Gold   Feb-25-09 07:27 AM   #12 
  - I think Obama was talking to the world  DemReadingDU   Feb-25-09 07:46 AM   #15 
  - y'know, I still have my reservations about Obama  Tansy_Gold   Feb-25-09 09:09 AM   #26 
     - Working women: Damned if you do....  TalkingDog   Feb-25-09 01:12 PM   #54 
  - Businesses do borrow to start up and expand.  tclambert   Feb-25-09 08:04 AM   #17 
  - In the days of venture capital, maybe, but not in the real world  Tansy_Gold   Feb-25-09 09:17 AM   #27 
     - When my husband got out of medical school  Mojorabbit   Feb-25-09 12:06 PM   #50 
     - Don't have stats, just anecdotes to back it up, but many businesses do start on borrowed money.  tclambert   Feb-25-09 03:20 PM   #71 
        - Walk in to a bank with a plan for a start-up, they'll laugh you outta the place.  Dr.Phool   Feb-25-09 05:54 PM   #97 
  - This would be my plan: Economic Recovery Bonds  Hugin   Feb-25-09 08:22 AM   #20 
     - I'd invest in my neighbors and community and country like that!  Pachamama   Feb-25-09 08:37 AM   #24 
        - Thank you Pachamama.  Hugin   Feb-25-09 09:08 AM   #25 
        - Why do you need  tama   Feb-25-09 02:25 PM   #59 
  - "The Hindenburg going to Rescue the Titanic "  Pachamama   Feb-25-09 08:33 AM   #23 
  - If Krugman doesn't get it  Warpy   Feb-25-09 12:26 PM   #52 
  - Bernanke's Hide and Seek Delaying Tactics  ozymandius   Feb-25-09 05:35 AM   #8 
  - I thought a big red flag was Bernanke's comment about the stress tests not being "Pass or Fail"  Pachamama   Feb-25-09 08:13 AM   #19 
  - That's Bernanke-land logic.  ozymandius   Feb-25-09 04:00 PM   #80 
  - If those "stress tests" involve hooking up electrodes to the nether regions...  MilesColtrane   Feb-25-09 10:59 PM   #108 
  - Japan Exports Fall By 46% in January, Producing Record Trade Deficit  ozymandius   Feb-25-09 05:44 AM   #9 
  - Debt: 02/23/2009 10,839,526,591,486.90 (UP 768,177,322.44) (Teensy tiny.)  Festivito   Feb-25-09 06:10 AM   #10 
  - Debt: 02/24/2009 10,843,355,058,860.91 (UP 3,828,467,374.01) (Small.)  Festivito   Feb-25-09 07:44 PM   #105 
  - Listened to Obama's speech last night. I think he gets it.  tclambert   Feb-25-09 07:21 AM   #11 
  - Obama is intelligent and has his heart in the right place - and gives great speeches. But that doe  Pachamama   Feb-25-09 08:24 AM   #21 
     - AMEN!  Tansy_Gold   Feb-25-09 09:21 AM   #29 
        - Write Obama a letter. He reads 10 letters a day  DemReadingDU   Feb-25-09 10:54 AM   #45 
  - dollar watch  UpInArms   Feb-25-09 07:36 AM   #13 
  - And on the Stanford Financial front, we have:  tclambert   Feb-25-09 07:45 AM   #14 
  - And there are those that say Gary Webb did not commit suicide.  Pachamama   Feb-25-09 08:30 AM   #22 
  - Yes and no  tama   Feb-25-09 02:31 PM   #60 
  - Ney praised Stanford in the Congressional Record -- just as he did for Abramoff  antigop   Feb-25-09 09:44 AM   #33 
  - Two employees of Stanford were also part of the regulator agency FINRA,  Robbien   Feb-25-09 10:33 AM   #41 
  - Other countries don't want to hand Stanford assets to the US  Robbien   Feb-25-09 10:38 AM   #43 
  - AIG may abandon asset sales plan: report  Demeter   Feb-25-09 09:21 AM   #28 
  - Excuse me? Who's gonna buy toxic shit?  Tansy_Gold   Feb-25-09 09:24 AM   #30 
  - Yes, it's probably time for a trip to the Chittagong scrap-yard in Bangladesh for AIG too...  Hugin   Feb-25-09 09:41 AM   #32 
  - A better end?  Tansy_Gold   Feb-25-09 09:50 AM   #35 
     - I'm all about recycling Tansy.  Hugin   Feb-25-09 09:55 AM   #37 
        - The dangerous part of recycling. . . .  Tansy_Gold   Feb-25-09 10:54 AM   #44 
        - That is one smart crow!  DemReadingDU   Feb-25-09 06:59 PM   #101 
        - You want to recycle Tansy? Sicko.  tclambert   Feb-25-09 04:05 PM   #81 
           - !  Tansy_Gold   Feb-25-09 04:47 PM   #86 
           - Here I am trying to discuss economic recovery...  Hugin   Feb-25-09 05:02 PM   #89 
              - Now, honey, you know we need these little laugh breaks once in a while  Tansy_Gold   Feb-25-09 06:47 PM   #100 
                 - I used to recycle, until I saw spouse  DemReadingDU   Feb-25-09 07:05 PM   #103 
           - Hey, lot's of sites will turn YOU into a coral reef  InkAddict   Feb-25-09 07:00 PM   #102 
  - It's all just an act. Going through the motions.  Dr.Phool   Feb-25-09 09:52 AM   #36 
  - AIG Was Shipping Around Its Best Money Assets  Demeter   Feb-25-09 05:18 PM   #91 
  - "AIG could not be immediately reached for comment by Reuters."  tama   Feb-25-09 02:36 PM   #61 
  - What I didn't hear in Obama's speech last night  antigop   Feb-25-09 09:47 AM   #34 
  - You missed Obama telling us what we should put in those "private retirement accounts" now  amandabeech   Feb-25-09 10:23 AM   #40 
  - Oh, yes, those "tax-free universal savings accounts"  antigop   Feb-25-09 10:36 AM   #42 
     - Brilliant!  Dr.Phool   Feb-25-09 11:06 AM   #46 
        - Oh, I believe!  amandabeech   Feb-25-09 12:32 PM   #53 
        - 9 Lives but not Fancy Feast?  tclambert   Feb-25-09 03:37 PM   #74 
        - Nevermind melamine. 9 Lives has too much bone meal. Gets stuck in my teeth.  ozymandius   Feb-25-09 05:48 PM   #95 
        - I'm sorry that was in bad taste.  tclambert   Feb-25-09 03:38 PM   #75 
        - D'oh! I can't even apologize right.  tclambert   Feb-25-09 03:39 PM   #76 
           - Friskies from Costco.  amandabeech   Feb-25-09 04:50 PM   #87 
        - Just got back from the hospital with Auntie  kickysnana   Feb-25-09 03:02 PM   #66 
           - I'm sorry to hear about your Auntie  DemReadingDU   Feb-25-09 07:09 PM   #104 
  - My foggy memory says, he mentioned regulation.  Gregorian   Feb-25-09 11:08 AM   #47 
  - I don't think so --I did a search on the is the only mention of "regulations"  antigop   Feb-25-09 11:13 AM   #48 
  - Well I'm having my espresso, and it isn't helping my memory.  Gregorian   Feb-25-09 11:50 AM   #49 
     - Yay, mortages for everyone!  DemReadingDU   Feb-25-09 12:21 PM   #51 
        - I loved Obama's speech. But I've got real problems with it too.  Gregorian   Feb-25-09 02:21 PM   #58 
           - Really, It's too soon to throw in the towel.  DemReadingDU   Feb-25-09 02:56 PM   #65 
           - Not a solution but maybe a mitigation in terms of stimulus vs global warming  bread_and_roses   Feb-25-09 04:58 PM   #88 
              - Thanks for setting me straight.  Gregorian   Feb-25-09 10:42 PM   #107 
  - Here's another quote from his speech:  tclambert   Feb-25-09 03:47 PM   #78 
  - Umm  tama   Feb-25-09 02:47 PM   #62 
  - Obama on TV now talking about accountability, n/t  DemReadingDU   Feb-25-09 03:03 PM   #67 
  - Well, silly me. I guess the ratings companies that rated all of this shit shouldn't be held  antigop   Feb-25-09 03:15 PM   #69 
     - Didn't say that  tama   Feb-25-09 05:20 PM   #92 
  - The thing I would've liked to hear  tclambert   Feb-25-09 03:34 PM   #73 
  - Please don't call anyone a bad name, like "war criminals" or "Piyush"  specimenfred1984   Feb-25-09 01:30 PM   #55 
  - You're gonna piyush that Yokum's Band-aid guy off!  Dr.Phool   Feb-25-09 01:46 PM   #57 
     - lol  mikelgb   Feb-25-09 03:04 PM   #68 
  - Oh, boy! Another securities fraud case  antigop   Feb-25-09 01:33 PM   #56 
  - Delete. Wrong Place.  TheWatcher   Feb-25-09 02:47 PM   #63 
  - They bought themselves an $80,000 teddy bear! . . Stealing pensions for teddy bears  Robbien   Feb-25-09 03:26 PM   #72 
  - $80,000 teddy bear? Was it full of heroin?  tclambert   Feb-25-09 03:53 PM   #79 
     - This story gets weirder and weirder  Robbien   Feb-25-09 04:29 PM   #84 
        - Some psychologist will have a field day with this psychotically selfish behavior.  ozymandius   Feb-25-09 05:44 PM   #94 
           - What bothers me is that these types may be the rules instead of the exceptions.  Hugin   Feb-25-09 05:49 PM   #96 
              - Trickier ones.  ozymandius   Feb-25-09 05:56 PM   #98 
                 - These guys aren't being taken down by the change in administration  Robbien   Feb-25-09 09:38 PM   #106 
  - The independent auditor turned out to be a firm known as The New York City Virtual Presence  Robbien   Feb-25-09 03:40 PM   #77 
  - Well, They DID Manage to Turn It All Better for a bit there, didn't they?  TheWatcher   Feb-25-09 02:50 PM   #64 
  - WOW. Now THAT Was One UGLY Close.  TheWatcher   Feb-25-09 03:15 PM   #70 
  - closing numbers and blather - look at the wicked volume!  ozymandius   Feb-25-09 05:33 PM   #93 
  - Bernanke Says There May Be Benefit to Uptick Rule  Robbien   Feb-25-09 04:07 PM   #82 
  - I did a photoshop of Rick Santelli the other day...  doxieone   Feb-25-09 04:11 PM   #83 
  - All that's missing is a 'Mission Accomplished' sign in the background...  Hugin   Feb-25-09 05:06 PM   #90 
  - Crisis of Confidence:  dweller   Feb-25-09 04:44 PM   #85 
  - ...  UpInArms   Feb-25-09 06:11 PM   #99 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC