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Politics : Ask Michael Burke

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To: GuinnessGuy who wrote (114794)	7/28/2008 7:38:57 PM
From: Knighty Tin	Read Replies (2) of 132070

Craig, well, in certain areas, we can buy short funds and buy long funds in another area. Great idea, but it does not cover enough areas for my druthers. Naked short selling has been outlawed since Joe Kennedy ran the SEC. You have to borrow the shares to guarantee the integrity of the system. Otherwise, what can the buyer do when you say, "sorry, no shares and no money left?" I have never agreed with the uptick rule. That simply gives the buyers an advantage over the sellers, which is not a fair market. But the shares have to be borrowed or there is no deal. This naked short selling is an abomination.

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