Then, the Securities and Exchange Commission stepped in, saying it would try to limit so-called “naked” short selling of shares in Fannie Mae, Freddie Mac and big brokerage firms. The plan would extend an unlimited line of credit for both companies for 18 months and give the Treasury the authority for 18 months to buy stock in both companies. The problem is that the SEC changed a seven-decades-old rule that prohibited short sellers from selling a stock short if the last trade was lower. Popular anger over tumbling equity prices erupted in Pakistan, underscoring the difficulties that regulators face in attempting to prop up falling markets as turbulence in many of the world’s financial markets continues unabated. The week’s top news and analysis, July 14-18 - MarketWatch Intraday data provided by Interactive Data Real Time Services , a division of Interactive Data Corp. Historical and current end-of-day data provided by Interactive Data Pricing and Reference Data . read more

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