Utah Governor Signs Law Against “Naked Short Selling” of Stocks

Utah Governor Jon Huntsman signed SB 3004, sponsored by Sen. Curtis Bramble, which cracks down on a stock speculation strategy called “naked short selling.”  Short sellers borrow stock hoping the share price declines so they can return it to brokers and pocket the difference. Naked short selling is where brokers send IOUs they can’t honor through a stock clearinghouse when they run out of shares to lend for short selling. Wall Street firms strongly oppose the new law and have vowed to sue.

Election Results for Ballot Measures Prove Largely in Support of Progressives

Tuesday’s election contained a large number of voter initiatives and proposed state constitutional amendments. Here are the results for those issues:

Abortion Ban
The South Dakota proposed constitutional amendment to ban almost all abortions failed with a vote of 56 percent to 44 percent. This amendment would have been a direct challenge to the US Supreme Court decision of Roe v. Wade.

Gay Marriage Bans
The proposed ban on gay marriage in Arizona failed with a vote of 51 percent against and 49 percent for the amendment. Den ganzen Beitrag lesen…