|but Floyd...You told me this could never happen.|
"Northern Rock’s shares have been subject to intense short-selling and “naked” short-selling since the Newcastle-based bank nearly collapsed in September. Although the LSE yesterday stopped short of attacking the speculative investors, the exchange gave warning of the “significant number of unsettled shares” in Northern Rock and strongly urged investors to close their positions as quickly as possible."
Even more amusing...the actions come about based on the whinnings of a large influential investor...
"The Stock Exchange said: “What we are doing today is publicly saying that that number has to come down.”
Its action comes after RAB Capital, the influential hedge fund and the largest shareholder in Northern Rock, berated regulators for failing to police the system properly. RAB Capital has acquired its Rock stake as a long-term investment."