SEC Plans Permanent Naked Short Selling Measures

A day late, the SEC appears close to measures that will permanently prohibit certain naked short selling. Frankly, I'm not sure where the SEC has been on this issue. It's no coincidence that the previous bottom in the financial market was the week of July 12 when the SEC instituted a temporary, 30-day ban on naked short selling of 20 large financial firms. It's also not a coincidence that the market has been spooked since the week of Aug. 12 when the temporary ban expired.

Chairman Chris Cox was a good congressman, but unfortunately he seems way over his head in leading the SEC.