Here we go again, why not just put the uptick rule back in?
(NY Times DealBook Blog) Citigroup is taking the short sellers to task after its stock fell more than 25 percent on Thursday. The sell-off occurred even though Prince al-Walid bin Talal of Saudi Arabia said he planned to increase his stake in the banking giant to 5 percent and expressed support for Citi’s leadership and strategy.
Citigroup urged the Securities and Exchange Commission to reinstate the agency’s expired ban on short selling of financial stocks, The Wall Street Journal and Bloomberg News report, citing people familiar with the matter.
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