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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (6195)	7/12/2004 11:58:03 AM
From: rrufff	Read Replies (1) \| Respond to of 12465

Naked shorting is gambling plain and simple. It does not relate to finance. Being long on margin is a typical finance transaction. You borrow on an asset. You can argue that the rules may need to be tightened but things have worked pretty decent with respect to margin since the collapse. You are comparing apples and oranges. Even though naked shorting scams are allowed, it's time the US got tough with them. I'm glad to see so much "news" and political process moving in that direction. I'm not defending scammy promoters. However, there are plenty of short scamsters that are going to be stopped, now that this is all out in the open and not hidden in some hedge fund's garage or in a bookie joint overseas. I'd also tighten up on some of the derivative action to bring them more in line with equivalent margin requirements. The arguments for derivatives and the excesses pretty much go away whenever we have a forced bailout every few years from some scammy outfit that lost their bet in a big way.