{"id":30432,"date":"2011-05-19T03:20:20","date_gmt":"2011-05-19T03:20:20","guid":{"rendered":""},"modified":"2011-05-19T03:20:20","modified_gmt":"2011-05-19T03:20:20","slug":"a_caller_on_naked_short_selling","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/","title":{"rendered":"A Caller on “Naked Short Selling”"},"content":{"rendered":"
\n

RUSH: David in Upton, Maryland. You\u2019re next as we go back to the phones. Welcome to the EIB Network, sir. Hello.<\/p>\n

CALLER: Hi, Rush. Longtime listener, first-time caller.<\/p>\n

RUSH: Thank you, sir.<\/p>\n

CALLER: I got a situation which I think McCain could take care of, or take advantage of, and it has to do with short selling, and I told your caller, I disagreed with your lack of regulations by the government, and it is this. There is, as far as I know, on the books a regulation in the SEC that doesn\u2019t allow the business of selling short naked. And what that means is people can go into the market without traditionally having to borrow stock to sell short and simply sell short, which creates huge volatilities in the market because they can go in in the opening and just say, ‘Well, we\u2019re going to sell 50,000 or a hundred thousand shares of this preferred or this stock short,\u2019 and they don\u2019t have to borrow the stock to cover that.<\/p>\n

RUSH: So they\u2019ve got no stake in it —<\/p>\n

CALLER: They\u2019ve got no stake in it except on the way down, and I don\u2019t know, as far as I know —<\/p>\n

RUSH: No, they lose big if it goes up.<\/p>\n

CALLER: But in this kind of market, they can\u2019t lose, because they can control the market by selling short in a thin market like the insurance market. They can control the market by selling such huge amounts short. These are the hedge funds and so forth. Used to be you had to sell on the way up, sell short on the way up and then wait for it to go down. That\u2019s not the case now. You can sell it on the way down and the kind of market — all they\u2019re doing is making the market much more volatile than it is now, much less orderly–<\/p>\n

RUSH: So what you\u2019re saying is these are not people that are profit taking.<\/p>\n

CALLER: No, no, no, no, no, no. You understand what a short sale is?<\/p>\n

RUSH: I do. You\u2019re saying that the market\u2019s going down here because of short sellers. I\u2019m asking you, are there some people here just simply selling and taking profits?<\/p>\n

CALLER: I\u2019m sure there are, but the volatility of the market is caused by these guys, these huge amounts of pools of money that can go into a thinly preferred share, for instance, like Merrill Lynch or whatever, that\u2019s not traded often and just sell it short on bad news, and they don\u2019t have to borrow stock to cover it, they just sell it short. What they\u2019re doing is they\u2019re making up extra shares of stock, they\u2019re printing stock.<\/p>\n

RUSH: And what you want is McCain to regulate this?<\/p>\n

CALLER: Well, it\u2019s already regulated.<\/p>\n

RUSH: All right, then what do you want McCain to do?<\/p>\n

CALLER: I think he should take advantage of this — I mean if Schumer and Dodd are head of the finance commission, nobody is investigating this, and it\u2019s like the Wild West; there\u2019s no regulation on this stuff.<\/p>\n

RUSH: Oh, I see.<\/p>\n

CALLER: The regulation is on the book.<\/p>\n

RUSH: Okay, you want McCain to suggest we have an investigation into this and maybe have people look into why this is being allowed to happen as it hasn\u2019t been in the past?<\/p>\n

CALLER: Absolutely.<\/p>\n

RUSH: All right.<\/p>\n

CALLER: And I think it\u2019s the Democrats\u2019 problem.<\/p>\n

RUSH: Well, I\u2019ve heard some vestige of this but obviously I\u2019m not as informed on it as you are and therefore I\u2019m limited in what I can say about it, because I\u2019m not doubting you, it\u2019s just I like to assure myself on things like this.<\/p>\n

CALLER: Please do, but my information, from a large brokerage house, is that there is a law on or a regulation in the SEC that this practice cannot happen, and yet the practice is happening wholesale. And that\u2019s why stocks go from 25 to three over two days.<\/p>\n

RUSH: What stock has done that?<\/p>\n

CALLER: I think AIG did. I think Merrill Lynch did.<\/p>\n

RUSH: Are you saying that short sellers caused the bankruptcy or near bankruptcy?<\/p>\n

CALLER: No, no, no, no, no, no. What I am saying is that short sellers are creating volatility in the market that is making a controlled solution to these situations much worse. That\u2019s what I\u2019m saying.<\/p>\n

RUSH: All right. All right. I will investigate that. I have many powerful friends who have all kinds of knowledge about all of this, who I\u2019m sure are tapping me e-mails at this very moment, saying you either don\u2019t even know what you\u2019re talking about, or they are confirming what you\u2019re talking about and helping me get up to speed. I\u2019ll let you know when it happens. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: David in Upton, Maryland. You\u2019re next as we go back to the phones. Welcome to the EIB Network, sir. Hello. CALLER: Hi, Rush. Longtime listener, first-time caller. RUSH: Thank you, sir. CALLER: I got a situation which I think McCain could take care of, or take advantage of, and it has to do with […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nA Caller on "Naked Short Selling" - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"A Caller on "Naked Short Selling" - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: David in Upton, Maryland. You\u2019re next as we go back to the phones. Welcome to the EIB Network, sir. Hello. CALLER: Hi, Rush. Longtime listener, first-time caller. RUSH: Thank you, sir. CALLER: I got a situation which I think McCain could take care of, or take advantage of, and it has to do with […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125113.Par.89380.ImageFile.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/www.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125113.Par.89380.ImageFile.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125113.Par.89380.ImageFile.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#webpage\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/\",\"name\":\"A Caller on \\\"Naked Short Selling\\\" - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#primaryimage\"},\"datePublished\":\"2011-05-19T03:20:20+00:00\",\"dateModified\":\"2011-05-19T03:20:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"A Caller on “Naked Short Selling”\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"A Caller on \"Naked Short Selling\" - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/","twitter_card":"summary","twitter_title":"A Caller on \"Naked Short Selling\" - The Rush Limbaugh Show","twitter_description":"RUSH: David in Upton, Maryland. You\u2019re next as we go back to the phones. Welcome to the EIB Network, sir. Hello. CALLER: Hi, Rush. Longtime listener, first-time caller. RUSH: Thank you, sir. CALLER: I got a situation which I think McCain could take care of, or take advantage of, and it has to do with […]","twitter_image":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125113.Par.89380.ImageFile.jpg","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/www.rushlimbaugh.com\/#website","url":"https:\/\/www.rushlimbaugh.com\/","name":"The Rush Limbaugh Show","description":"Excellence In Broadcasting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rushlimbaugh.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#primaryimage","inLanguage":"en-US","url":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125113.Par.89380.ImageFile.jpg","contentUrl":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125113.Par.89380.ImageFile.jpg"},{"@type":"WebPage","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#webpage","url":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/","name":"A Caller on \"Naked Short Selling\" - The Rush Limbaugh Show","isPartOf":{"@id":"https:\/\/www.rushlimbaugh.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#primaryimage"},"datePublished":"2011-05-19T03:20:20+00:00","dateModified":"2011-05-19T03:20:20+00:00","author":{"@id":"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b"},"breadcrumb":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/a_caller_on_naked_short_selling\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rushlimbaugh.com\/"},{"@type":"ListItem","position":2,"name":"A Caller on “Naked Short Selling”"}]},{"@type":"Person","@id":"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b","name":"admin","image":{"@type":"ImageObject","@id":"https:\/\/www.rushlimbaugh.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/30432"}],"collection":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/comments?post=30432"}],"version-history":[{"count":0,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/30432\/revisions"}],"wp:attachment":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/media?parent=30432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/categories?post=30432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/tags?post=30432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}