Banking Group Wants Short Selling Order Expanded

Law360, New York (August 8, 2008, 12:00 AM EDT) -- The largest banking trade association in the United States has again asked the U.S. Securities and Exchange Commission to extend its emergency rules banning the naked short selling of stock to all banks and bank holding companies.

In a letter Thursday, the American Bankers Association said that several regional and community banks with assets valued at under $1 billion reported a stark increase in naked short sales in the first quarter of 2008. That, the letter said, argues for an extension of the SEC's emergency order...
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