May 19, 2009
There should be a total ban on short sales, prohibiting brokers holding other people's stock certificates from loaning them out to short traders for pennies on the dollar instead of buying the stocks themselves for the full price. This allows them to run the market up and down several times a day. I believe this has caused a large percentage of investors to lose most of their assets.
This short trading was illegal for 50 years, according to the Wall Street Journal.
Sincerely
Robert N. Mullins