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: rrufff who wrote (3296)	3/17/2008 5:48:31 AM
From: NightOwl	Read Replies (1) of 5034

...Rrufff? You do realize that this reg is just window dressing don't you? This is just more SEC "fluff" floated to take your eye off the fact that they are doing nothing to prevent or even limit the power of brokers/MMs to dump as many counterfeit shares as they want. Naked short selling isn't a crime against "Broker dealers." It is a crime by broker dealers and their banking affiliates. They are the ones who control the lock and the door to the vault. If they didn't want naked short sales, there would not be naked short sales. This rule will be of assistance to no one but a few lucky trial lawyers who happen to find a hedge fund defendant before it goes belly up... broker dealers will argue in court that it "confirms" that their naked short sales are not and cannot constitute fraud. You might as well pass a law that says mechanics who run chop shops are the victims of auto thefts rather than co-conspirators. 0\|0

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