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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: NightOwl who wrote (3262)3/5/2008 7:48:30 AM
From: rrufff  Read Replies (1) of 5034
 
yup - still plenty of room for the manipulation and is it any wonder that the industry defenders and "crusaders" say there is "no such thing," when changes are made?

MM scam is the key - there is no reason for trades not to settle within hours given current electronic and auction capability. Option MM's really know how to play this scam.

and the SEC said it would not apply to market makers engaging in market-making activities.

Although the SEC already has authority to sue illegal short sellers, SEC officials said a new rule explicitly targeted to naked short sales might affect behavior. SEC commissioners Paul Atkins and Kathleen Casey expressed support for the crackdown on abusive sales but said they want to be sure that doesn't result in unintended consequences, such as driving legitimate short-sales offshore.
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