August 24, 2009
I think it is about time SEC does something about the short selling to prevent such ludricous actions that also help naked shorters fall through the system too. It makes such a joke about the market for retail investors and unfair pratices and unlevel playing ground. It should be totally taken away to short any stock whether legally or illegally. It is not right when I have to buy my stock outright and someone else gets to borrow stock on time and profit on it while my stock declines while they do it. There is no need for stocks to be on such short interest list so long depressing the stock and it's value to the stockholders causing shareholders grief as well as the company they hold shares in.
I don't even know why shorting should be allowed at all. Obviously since the economic downturn shorting made the market worse. SEC should have been more diligent in protecting the retail investors and the companies they choose to hold stock in. Short selling pratices are abusive and shouldn't be taken lightly and the SEC should have closed loopholes for these shorts to abuse a long time ago. SEC should be ashamed of themselves for not doing something about it sooner. Madoff and Enron are good examples for the failure of the SEC to protect the investors rich or average in wealth. Instead of looking the other way time for the SEC to let these shorts know they mean business and slap them with heavier fines and shut down the shorts and naked shorts that take place in the market today.
Sincerely Kim Vincent