In his 1932 book, Short Selling, James Meeker, the then chief economist at the New York Stock Exchange, documented centuries of attempts by governments in every corner of the world to restrict the practice of short selling. He attempted to show that these rules, which seem always to follow stock market declines, are generally repealed because they prove to be ineffective or have unintended - and undesirable - consequences.

Now, more than 75 years later, we may have another example of unsuccessful short selling regulation that reminds us, yet again, that history repeats itself.

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