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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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From: pcyhuang7/21/2008 10:19:39 PM
   of 5034
 
SEC's Shameful Laxity in Enforcing the Securities Laws

Barron writes: Naked short selling -- that is, selling shares short before you've arranged to borrow them, as the SEC has mandated on the stocks of 19 key lenders including such impoverished beauties as Fannie Mae and Freddie Mac -- is already illegal. An incorrigible cynic might be prompted to conjecture that Chairman Cox and his team of ferocious Chihuahuas are engaged in making a very public hullabaloo to cover up their shameful laxity in enforcing the securities laws.

In like vein, that same unreconstructed cynic might wonder if the agency, by promiscuously issuing subpoenas to virtually everyone on Wall Street who ever uttered the name Bear Stearns is not so much intent on pursuing a forensic autopsy as helping the staggering economy by throwing money around like an investment banker after his first bottle of wine, and enriching legions of lawyers.

Our timidity, not to mention our confusion, has been greatly furthered by the fingering by Washington of speculators for hiking the price of oil sky-high. Are the short sellers who drive stocks down the same knaves who drive oil prices up? Are they ambidextrous investors or two distinct species? Wouldn't it prevent innocents like ourselves from being ensnared by these bad people if they were compelled to have identifying tattoos imprinted on their foreheads that marked them as naked short sellers, speculators or, heaven forbid, both?

Full Story: online.barrons.com

Cheers,
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