May 1, 2009
The SEC has shown over and over again that it is either negligent or complicit in refusing to create and enforce simple rules that would create a level playing field for investors and traders. There is NO excuse for this.
Abusive short selling has ruined and continues to ruin many good companies in many different sectors. How are certain entities allowed to drive a stock into the ground without any corresponding news or fundamental change to that company? It is the equivalent of buying fire insurance on a building and then burning that building to the ground. And the SEC sits back and tries to pretend like it doesn't happen.
The SEC should be ashamed. The negligence is bordering on criminal. Get your act together and start doing your job.