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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From: Zoro99	9/18/2008 12:46:33 PM
	4 Recommendations Read Replies (3) of 5034

McCain Calls for Firing of SEC Commissioner -- Susan Davis reports on the presidential race. September 18, 2008, 12:34 pm John McCain has two words for Securities and Exchange Commission Chairman Christopher Cox: You’re Fired. “The chairman of the SEC serves at the appointment of the president and has betrayed the public’s trust. If I were president today, I would fire him,” McCain says, according to excerpts for a speech on reforming the ailing U.S. financial markets he will deliver today in Cedar Rapids, Iowa. “The primary regulator of Wall Street, the Securities and Exchange Commission (SEC) kept in place trading rules that let speculators and hedge funds turn our markets into a casino,” McCain says.“They allowed naked short selling–which simply means that you can sell stock without ever owning it. They eliminated last year the uptick rule that has protected investors for 70 years. Speculators pounded the shares of even good companies into the ground.” Permalink \| Trackback URL: blogs.wsj.com

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