Thomas G. Donlan
Barrons, 28 July 2008
The stock market was a safer place last week and the financial system was somewhat less endangered. How do we know? The Securities and Exchange Commission ordained it.
“The SEC’s mission to protect investors, maintain orderly markets and promote capital formation is more important now than it has ever been,” Chairman Christopher Cox declared on July 15, as the commission took action to “stop unlawful manipulation through ‘naked’ short-selling that threatens the stability of financial institutions.”
