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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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From: basserdan6/25/2009 8:37:53 PM
3 Recommendations   of 5034
 
David Patch's June 24th comment letter to the SEC

What lasting change to short sale policies that these industry experts refer to have taken place over the past few decades that have resulted in lower market liquidity and increased trading costs? Did Regulation SHO impact market liquidity and the cost of trade? Regulation SHO was the most significant change in sixty years and if that had no impact what else did? I hope these fund managers are not foolish enough to refer to the July 2008 emergency order that lasted all of 30 days and was sprung on the markets like the stealth of an Eagle swooping down on their prey. No warning and instantaneous chaos! By the time any understanding of how to deal with the condition was made the emergency order was lifted.

* * *

The markets need a mandatory pre-borrow and the markets need an Uptick rule. It needs both because if history has shown us nothing else it has shown us that there is no honor amongst thieves and Wall Street is built of honorable people who fish daily in the cesspool of thieves that has become the fishing grounds of the Industry. Anybody that wants to claim otherwise has not paid much attention to the last decade of scandals missed by Federal, Market, and the Self-Regulatory Systems responsible for rooting out and preventing these activities.

Here is the full letter:
sec.gov
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