I just saw this headline in the Wall Street Journal a few minutes ago:
"WASHINGTON--The Securities and Exchange Commission announced an emergency action aimed at reducing short-selling that targets Wall Street brokerage firms as well as Fannie Mae and Freddie Mac, and will immediately begin considering new rules to extend new requirements to the rest of the market."
Not only will it involve selling short FRE and FNM, but according to the journal, it will also apply to Lehman Brothers (LEH) , Goldman Sachs (GS), Merrill Lynch (MER) and Morgan Stanley (MS).
I tried to find this emergency order on the SEC web site, but could not. Please send a link my way if anyone can find it.
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