May 13, 2009
1) The SEC should stop protecting criminal naked shorts who abuse the 3-day-hard-delivery rule by enforcing this rule which for a long time went unenforced and finally the SEC said it should really be followed. But to date, not a single naked short abuse case has been prosecuted.
2) The SEC should stop protecting criminal naked shorts and criminal manipulators who shortdistort by releasing to public names of major short position holders in public companies.
Anything short of the above means only lip service and the public is tired of getting lip service from SEC for years -- lip service that SEC is there to protect investors. So far, it seems, SEC is there to protect Wall Street, big hedge funds, big short sellers.
Help us SEC, the house is on fire. Wake up.