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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: Hawkmoon who wrote (3560)7/18/2008 11:02:53 AM
From: kknightmcc  Read Replies (2) of 5034
 
Not only that, if brokers use our stock to back a short position, we should receive a fee for that use of our stock or be given the right to opt out of the system, the same way that stock is lent to the big institutions for a fee. I worked in stock loan many years ago and the firm I worked for went out and located stock to loan between institutions for a period of 3 days and received a 1-1 1/2 percent fee for the trade. At the end of the time period in question the stock had to be returned to the lender. It should apply the same to the individual investors when their stock is used to cover a loan out to back a short position. I said that in my letter to the SEC on the topic some time back.
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