So, when did CVS (CVS) become classified as a financial?
The SEC has added CVS to the “short selling ban” that was initially restricted to financial companies. The reason? CVS, one of the biggest US drugstore groups, said on Thursday it was added to the list because it ran Caremark, the prescription benefit manager.
This is just insane. Just ban short selling altogether. The rules are being changed in a daily basis. If investors or traders do not know from day to day what the rules are, they just will not do anything. Why place a bet when the gov’t can come in tomorrow and wipeout your position? Why?
This comes just after SEC Commish Chris Cox asked to regulate the credit default market. If there is a god in heaven that request will be declined until he is replaced. Either regulate or don’t, whatever, but you just cannot “make it up as you go along”.
Cris Cox needs to go…just get out..
No one benefits when it gets done that way..
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2 replies on “CVS is Now a Financial?”
They should put Sears on the list. Don’t they do some financing of their own?
Sears was put on the list. Would love to know why and who lobbied for it.