Short-Sale Ban Fans Market, Irks Hedge Funds

Law360, New York (September 19, 2008, 12:00 AM EDT) -- Among the announcements by the federal government that cheered investors to the tune of a more than 3 percent rise in the Dow Jones Industrial Average on Friday was that of the U.S. Securities and Exchange Commission barring short-selling for 799 financial institutions. But mixed in with the cheers from Wall Street were a smattering of boos, mostly from hedge funds.

“In the short run, it's a good thing,” said Jim Wolfson, a senior financial planner at Baystate Financial Services LLC in Boston, in a telephone...
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