SEC Adding Lipstick To The Financial Crisis Pig

In an attempt to put lipstick on the financial criss pig, the Securities and Exchange Commission met last night in emergency session to consider requiring hedge funds to disclose their short positions and institutional traders to secure their records in anticipation of subpoenas.

Under the proposals, managers with more than $100 million invested in securities would have to issue reports of their daily short positions.

The meeting came after the SEC adopted two regulations that go into effect today that will force traders and brokers to actually borrow shares used in all short sales.

The proposal to disclose short sale positions of hedge funds on a daily basis will do nothing but provide a nice handy spot to find out what new dogs pro short sellers have discovered and put more downward pressure on those stocks.

-Robert Wenzel