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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: rrufff who wrote (1800)9/23/2006 6:10:41 AM
From: NightOwl  Read Replies (1) of 5034
 
<<I'd prefer to "hope" that we can somehow change the system by educating more and more.>>

Mr. Rrufff, I have to agree with you that it makes no sense whatever to sit and do nothing. But the more "educated" I get, the more difficult it is to see the SEC ever treating FTDs like the fraud they are.

I may certainly be wrong about that. After all, I'm still stupefied that they ever acknowledged the "strategic" nature of the practice at all... much less proposed any regulation of it.

But I can no more throw off my pessimism, than I can change my male pattern baldness. If the SEC were to now and adopt the recommendations to (1) force pre-trade borrows, (2) require meaningful daily short and FTD data disclosures and (3i) make the closing date for all transactions the same and (3ii) force buy-ins in every FTD arising on that date... I would still be just as pessimistic if for no other reason than their inability to Do The "Obvious" Right Thing unless and until enough of us yelled at them.

It might be different if their inertia concerned some technical equivocation that simply favored one group of participants over another. But this is about as close a case of legalized crime as I can imagine, or stand to contemplate, in a democratic society.

In my world the SEC is now a step below the Gaming Commission... apparently charged with making sure the "Street" takes my money in an orderly fashion... albeit, without the entertainment, comps, or disclosures I can get in Nevada.

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