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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Cogito Ergo Sum who wrote (112073)	10/16/2008 11:15:47 PM
From: ChanceIs	Read Replies (2) of 206161

As far as I know, naked shorting has been illegal since the Great Depression. There are some semantics and delivery time of borrowed shares issues. IMO the enforcement has been lax. What was different in July was: 1) The SEC decided to get off of its fanny and do some enforcement - targeted at the banking sector exclusively. This was a travesty IMO designed to cause a short squeeze and pass blame elsewhere. If Dick Fuld had been a little more clever and issued about 10X the shares he did in the March time frame, then he might still have a company. To whom did the fault belong in February?? Lehman was trading in the mid $30s back then. 2) In order to disguise their selective enforcement, SEC tweaked the rule a little and required designation of particular shares before shorting was allowed. A red herring.

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