June 8, 2009
Why is naked short selling allowed? I buy a long position and have to pay cash, some trader borrows my shares from a broker with no investment and drives the stock in the ground. This is equal to theft in my opinion and must be stopped. His short position doesn't even exist. SHORT SELLERS SHOULD HAVE TO PAY FOR THEIR POSITIONS AND ONLY BE ALLOWED TO PURCHASE A STOCK THAT IS ON THE MARKET FOR SALE. There should be no more positions in a stock than the number of shares issued. It is time this is made right.