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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation? -- Ignore unavailable to you. Want to Upgrade?

To: dvdw© who wrote (3643)	7/29/2008 6:36:46 AM
From: rrufff	Read Replies (2) \| Respond to of 5034

Cramer weighed in on his show last night No Stock Left Behind "No stock should be the target of naked shorting," Cramer asserted. He called the practice of shorting a stock without having to first borrow the shares just immoral. He told viewers that while the practice is already illegal, the SEC has systematically failed to enforce the rule. Tomorrow is a landmark day, as the SEC reconsiders its emergency rule that protects selected financial shocks from the practice of naked shorting, he said. Cramer warned that without the emergency protection, the financial stocks will go much lower, as hedge funds and others once again pummel the stocks. He called into question the character of such hedge fund managers, who employ such company-destroying tactics to make a quick buck for their funds. Cramer advocated for not only the rule to remain in effect, but for the protection to extend to all stocks. "No one should be allowed to destroy a company," he said. He noted such hard-hit stocks as Washington Mutual (WM - Cramer's Take - Stockpickr), AIG (AIG - Cramer's Take - Stockpickr) and National City (NCC - Cramer's Take - Stockpickr) were left off the initial emergency protection list.