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Re: mariner78 post# 64159

Thursday, 07/30/2009 12:44:20 PM

Thursday, July 30, 2009 12:44:20 PM

Post# of 165854
From the SEC ruling:

"In addition, at the time that we adopted temporary Rule 204T, we noted our concerns about the sudden and unexplained declines in the prices of equity securities generally and the deterioration in investor confidence in our financial markets. Such price declines can give rise to questions about the underlying financial condition of an entity, which in turn can create a crisis of confidence even without a fundamental underlying basis. This crisis of confidence can impair the liquidity and ultimate viability of an entity, with potentially broad market consequences. Thus, we also adopted temporary Rule 204T to further our goal of preventing substantial disruption in the securities markets by providing a powerful disincentive to those who might otherwise engage in potentially abusive “naked” short selling."

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