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Biotech / Medical : The Securities and Exchange Commission
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From: scaram(o)uche6/7/2007 12:35:54 PM
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Message 23605879

kudos.....

The SEC also plans to vote on finalizing a proposal that would prohibit anyone who sells short a security in advance of an offering from purchasing the security in the offering. SEC officials say such an approach would help prevent manipulative short selling around an offering.

Throw the bastards in jail.

Shorting in the face of an offering where you're guaranteed shares, where you can reset your basis -- intraquarter -- at the expense of smaller shareholders? Guaranteed profit, while smaller shareholders can only watch the dilution at lower share price? Guaranteed profit on the back of retrenching, when news of corporate developments has hit major but not small shareholders? It's just plain immoral.
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