By John Tamny, Forbes
The SEC is situational in its like of market transparency. Back in 2002 it embraced the economy-killer Sarbanes-Oxley with balance-sheet clarity in mind. But with transparency driven by short sales, the SEC is not so sanguine. The SEC’s recent vote to curb short-selling shows how divorced from reality Washington is. Not only do short-sellers provide true price discovery, but as buyers over the long-term, they’re downside protection personified.
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