July 18, 2008
As a investor I'm very aware of the harm naked shorts have done to stocks in general and my stocks in particular--which are not the stocks selected by the SEC for special consideration. Why is that? It seems like more of "the public be damned" attitude that this government often takes.
As a result, the financial markets are losing the confidence of the public, as if things weren't bad enough.
If you will enforce the law as it stands, perhaps you might not need further regulation. Companies are being ruined by the dilution of their shares when naked shorts fail to cover. This is fraud. This is criminal activity. We are ALL harmed.
Enforcement of the existing law would go a long way to assuring fair markets in this country. Without that the U.S. markets will be another doomed area of our economy.