July 29, 2008
It is very clear that Naked Short Selling increases stock volatility, enhances the short term gain of a few while negating the long term investing of the masses. In addition, Naked Short Selling increases the risks in the credit markets as well has served to disrupt the banking system. It is my view that this practice should be stopped not only for financial entities but for all entities altogether. This will better serve the public to make the markets more transparent and more equitable to all who invest there. This to me is a basic function and should be the objective of the SEC in providing the leadership role in ensuring fair and sound financial markets.