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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To: basserdan who wrote (4426)	5/14/2009 7:44:32 PM
From: Hawkmoon	2 Recommendations of 5034

Industry members also support the rule. Kevin Cronin, director of global equity trading at mutual fund giant Invesco, said the problem of naked short selling "has been effectively dealt with through Rule 204T." At last week's SEC roundtable discussion on short selling, Cronin said the rule should be made permanent. Jerry O'Connell, chief compliance officer at Susquehanna International Group, a large market maker in options and exchange-traded funds, agreed that Rule 204T had "fixed" the problem of abusive short selling. I'm sorry.. when they guys say the problem's been fixed, that makes me worried. Especially when they were on the committee to review short selling and it took them this long to recognize the problem and deal with it. And what would one expect from folks who our on the SEC review panel for short-selling? Funny the reporter didn't mention that little detail: sec.gov Hawk

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