November 26, 2007
Naked Short Selling
Laws that are not enforced are worthless.
For two years my 401K plan (Scottrade) has made in excess of 10% in dividends. Without exception my accout remains at the same value due to naked short selling. Market minipulation is pretty plain. (See attached Harris Poll) Americans are becomming aware.
Why can't we adopt the Canadian style of fairness. They allow all the naked shorting one desires with one major rule:
1. You can naked short unlimited but if one drives the stock down the shorting firm must compensate the stock share owners the difference from the time naked shorting began to when the shorts were covered.
I have no faith in the market as it stands. The current rulings/proposals are worthless.