Thursday, December 11, 2008
Traders: Resurrecting "uptick rule" may not help markets
Brokers who trade about a quarter of U.S. stocks said reviving the restriction on short sellers likely would not curb market volatility or bets against equities. Many market participants as well as lawmakers blame a 2007 decision by the Securities and Exchange Commission to forgo the regulation as a contributing factor in the dismal year for stocks. Others blame short sellers for driving down share prices by spreading rumors.
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