April 4, 2008
Selling a stock that you don't own, that you don't know where you can get and that you may not ever deliver has to be the dumbest thing I have ever heard of. I'm not going to quote examples or site rulings because frankly I'm not that smart, but it's time the market is made transparent enough that everyone can understand it and market makers, hedge fund etc. are not allowed to do whatever they want. I feel short selling should be stopped in all cases. Many times a stock drops because of illegal activity by members of the company and who pays the price ? The shareholders. Who makes money on illegal activity ? The shortsellers.