<<Apparently, in the U.S., it is illegal to short a stock that your broker can not borrow.>>
Exactly. If you sell a stock, you incur an obligation to deliver a certificate of that stock to whoever you sold it to within a period of time, if requested. Since you can not borrow such a certificate for delivery in a BB stock, you would be in default. That has legal ramifications. MMs do this because of agreements with brokerages that allow BB certs to be loaned, even if they say they do not do it. But a private citizen is not in a position to do that. So tell me, Paul, where do you borrow your certs from? Or don't you practice what you preach? Are you telling me that you are advising investors, in a public forum, on how to conduct an activity that is in violation of SEC compliance rules, and you yourself are think it is ok to do that, because you have not found it in US codes? So I assume that not only are you a telcom engineer, but you also have a law degree? And you are now giving legal advice as well? You know, I do believe the SEC might take more and more interest in your activites. Do you also practive any revolutionary activities, in the style of Che Guevara, or are you only an armchair revolutionary? |
