Good Market Makers vs. Bad: Times Are A-Changing
By Jack Burney
Market makers should be aware: Times, they are a-changing.
Most market makers, as we've often observed, are "good." They perform a service that has been essential to OTC companies and investors, but they don't overdo it. They have, I suppose, integrity. They make the big bucks for doing so, but they probably deserve to.
Some market makers - only a few, one would hope - are "bad." They indulge in the limitless naked shorting of stock, selling stock they don't own, not to "make a market", but to manipulate the price, screw the investors, and make a killing. Our antiquated law allows them to. The SEC encourages them to, with a barely-noticeable slap on the wrist for transgressions.
Bad market makers are arrogant. They boast of their ability to cheat and steal from small investors and small struggling companies. They know who they are.
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