May 4, 2009
I find it laughable your taking comments on this yet again. How many times do we need to write in to tell you we have no faith in you, the SEC, once the uptick rule was removed, no action on Failure-To-Delivers, and no transparency on both sides of trades (long positions must be disclosed but not shorts). You are dragging your feet on something that was implemented SPECIFICALLY to address market damage done 70+ years ago. There has been ample proof provided you that the market tests supporting the removal were flawed.
I believe all 5 options should be implemented with a mandatory pre-borrow. Yes, this would (should) eliminate overly leveraged ETF's used for shorting. Why should phantom shares continue to be allowed to exist? In this day and age, there is NO REASON for trades not to be cleared in 3 minutes, let alone 3 days.
If you are serious about restoring faith in our markets, you will heed the advice given and show us you are PREVENTING corruption by passing strict shorting rules, as well as PROSECUTING it.
I am frustrated at the slow response the SEC has shown on this and other market issues. GET IT DONE ALREADY.