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Worse, if the stock is hard to find, the short-seller may even have to pay a borrowing fee of up to 1.5%.
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Beyond just embarrassing, the delays were consequential; they cost school districts and local governments millions in borrowing fees.
Defaqto said NatWest was expected to launch an account that charges £10 a month and limits unauthorised borrowing fees to £17 each.
Mr. Obama called for the S.B.A. to increase guarantees on private loans and reduce borrowing fees in order to unfreeze credit markets that have retreated from extending loans to small businesses.
The company reduces time-to-close from two months to two-and-a-half weeks, according to a statement and can reduce borrowing fees by an average of $20,000.
The state would give schools $128 million to cover some extra borrowing fees and increase per pupil funding by about $50.
President Obama proposed as much in his State of the Union this year, unveiling a so-called "Robin Hood" tax plan that would raise taxes on capital gains, ending tax breaks on inherited assets; impose new borrowing fees on the country's biggest banks; and prevent rich people from accumulating massive stores of cash in tax-preferred retirement accounts.
Nick Barr, professor of public economics at the London School of Economics, favours a model, laid out in a 2010 paper with Shephard, in which universities pay an insurance premium calculated according to the earnings of their graduates, to cover student borrowing for fees above a baseline figure.
Students can borrow the fees from the government, as well as a sum towards living expenses.
"I'm trying to borrow the fees for City Center next week".
Instead, they are expected to rely heavily on borrowing, tax or fee increases and an array of one-time maneuvers, like tapping the coffers of public authorities.
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