By John Galt
August 11, 2011 – 08:23 ET
The NY Times is breaking this story now on their business pages (click on the title to read entire story):
By STEPHEN CASTLE AND LOUISE STORY
BRUSSELS — A European market regulator is considering recommending a temporary ban on negative bets against stocks across the continent, in an effort to stop the tailspin in the markets, according to two people with knowledge of government discussions.
The European Securities and Markets Authority, a body that coordinates the European Union’s market policies, has been requesting information from member states about such bets against stocks, known as short-sales.
Apparently the lessons of 2008 have been forgotten already. This will only accelerate an already panic stricken situation and cause more people to freak out suspecting that something truly is wrong with their financial system.