SHORT-SELLING ACTIVITY IN THE STOCK MARKET: HEARINGS BEFORE THE COMMERCE, CONSUMER, AND MONETARY OF THE COMMITTEE ON GOVERNMENT OPERATIONS ONE HUNDRED FIRST CONGRESS FIRST SESSION NOVEMBER 28, 29, AND DECEMBER 6, 1989 Printed for the use of the Committee on Government Operations 36-736 U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1991 For sale by the Superintendent of Documents, Congressional Sales Office COMMITTEE ON GOVERNMENT OPERATIONS JOHN CONYERS, JR., Michigan, Chairman CARDISS COLLINS, Illinois STEPHEN L. NEAL, North Carolina ROBERT E. WISE, JR., West Virginia JOHN M. SPRATT, JR., South Carolina GERALD D. KLECZKA, Wisconsin MATTHEW G. MARTINEZ, California NANCY PELOSI, California DONALD M. PAYNE, New Jersey GARY A. CONDIT, California FRANK HORTON, New York DONALD E. “BUZ” LUKENS, Ohio J. DENNIS HASTERT, Illinois JON L. KYL, Arizona CHRISTOPHER SHAYS, Connecticut STEVEN SCHIFF, New Mexico ILEANA ROS-LEHTINEN, Florida Barnard, Hon. Doug, Jr., a Representative in Congress from the State of Georgia, and chairman, Commerce, Consumer, and Monetary Affairs Flaherty, Robert J., editor and president, OTC Review, Inc.... Guion, John F., president, National Association of OTC Companies, ac- Finn, Gene, chief economist and vice president, National Association of Securities Dealers, accompanied by John Pinto, executive vice presi- Marquez, Thomas J., chairman, Carrington Laboratories. Russell, Michael K., president, American City Business Journals. Spira, Robert A., chairman, Berkeley Securities, New York....... Letters, statements, etc., submitted for the record by: Barnard, Hon. Doug, Jr., a Representative in Congress from the State of Georgia, and chairman, Commerce, Consumer, and Monetary Affairs Subcommittee: Letter dated November 27, 1989, from Feshbach Broth- ers, relating to abuses in the short selling area, to subcommittee staff.... Finn, Gene, chief economist and vice president, National Association of Securities Dealers: Prepared statement and Pollack report.. Flaherty, Robert J., editor and president, OTC Review, Inc.: Hager, Edward B., M.D., chairman, IGI, Inc.: Prepared statement. Ketchum, Richard G., Director, Divison of Market Regulation, Securities Pinto, John, executive vice president of compliance, National Association of Securities Dealers: Stock exchange regulatory budget and staffing |