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Short-Sell Ban Extended As Capitol Hill Eyes Bill

Law360 (October 2, 2008, 12:00 AM EDT) -- In an attempt to buy time for lawmakers on Capitol Hill, the U.S. Securities and Exchange Commission on Wednesday extended a ban prohibiting traders from short-selling certain stocks – most notably those in the beleaguered finance sector – at least until three days after bailout legislation currently before Congress is enacted into law.

Wednesday night the Senate overwhelmingly approved a massive bailout bill. But the House, which late last week rejected a similar measure, has yet to pass any legislation.

Legislation notwithstanding, according to the SEC,...
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