If Short Selling Is Banned Here, What Happens?

Dick Grasso was on CNBC this morning, and said that the markets should have never gone to penny spreads, it should have been put at 5 cents between the quotes. Grasso said the way to get rid of naked shorts is buying them in after three days. Since there is no uptick rule, piling on and rumor mongering will continue to make equity markets extremely volatile. Dick Grasso is the former chairman and chief executive of the New York Stock Exchange NYX.