Has South Dakota Captured the Zeitgeist?
Joe Mathews -
October 27, 2008 - 8:58am
The Wall Street Journal thinks so. Here's the Journal's round-up of state ballot measure. The paper pays extra close attention to a South Dakota ballot initiative that would ban naked short-selling, a practice that many companies have blamed for contributing to the collapse of big firms. Short sellers are folks who borrow a stock and then sell it when they think the price will drop. "Naked" short selling is whe folks do this through contracts without actually borrowing a stock. Supporters of the initiative believe the SEC should have cracked down on this practice.
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