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1. Naked Stupidity From the SEC
Don't even think of getting naked on Wall Street these days. And by no means should you get naked anywhere near Fannie or Freddie.
The consequences will surely be dire now that SEC Chairman Chris Cox issued an executive order banning naked short-selling of Fannie Mae(FNM Quote) or Freddie Mac(FRE Quote) shares. Naked short-selling involves selling shares short without having borrowed some first.
Tuesday, Cox announced to the world that the SEC was taking emergency action to prohibit the naked short-selling of shares of the two gigantic mortgage firms. ...
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