Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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To: pcyhuang who wrote (3261)	3/5/2008 2:15:20 AM
From: NightOwl	Read Replies (1) of 5034

These rules are so much butt covering. If anything it will make elimination of FTDs harder by codifying a requirement for proof of intent to deceive and doesn't even apply to brokers or market makers. The license to steal is definitely still intact. These rules explicitly avoid any notion that a short sale carries a contractual obligation to deliver borrowed shares by the closing date or any other time. They recognize a "wrong" only when the FTD can be shown to have resulted from an intent to deceive by the seller. That's like telling Best Buy they can't be penalized for failing to deliver the new TVs they sell on-line, unless the buyers can show that the failure to deliver was the "result of an intent to deceive" by the manufacturing company. This country is so far down the toilet hole of broker/banker fraud that the so called "regulators" rely on those same rats to keep it afloat. What a disgrace... 0\|0

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