SEC lengthens ban on short sales to mid-August

07/30/2008 | Bloomberg

The Securities and Exchange Commission, which plans to implement broader rules to avert stock manipulation, announced that it is extending to Aug. 12 a ban on "naked" short sales of shares in 17 brokerages as well as troubled lenders Fannie Mae and Freddie Mac. The ban is intended to protect companies whose collapse might lead to losses for the U.S. government.

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