July 9, 2008
It is absurd that individuals are required to voice their opinions regarding a loophole which is so widely abused, one which is routinely used to simply counterfeit shares. You complicit SEC criminals don't have the least bit of intent to create and maintain a fair market.
For what little good it will do, I hereby express my opinion that the SEC should forthwith completely abolish the Option Market Maker exemption which affords them the ability to sell shares of any security which they have not actually gone into the market and purchased like any investor is required to do.
The Option Market Maker Exemption MUST be Eliminated.
Why the hell should these bums be allowed to merely locate shares or have weeks to actually settle their trades? Supply and Demand...what a joke. Can anyone imagine the Secret Service bending over backwards for years to allow legalized counterfeiting of U.S. currency? Hopefully the new administration will replace the current WS shill heading the SEC with an individual who actually has a sense of right and wrong. Awfully funny that for years, no one in the media even cared the least bit about naked shorting until Bear Sterns was targeted. So glad one of the big WS firms was destroyed by the short hedgies, hope they do it to another one of the big WS IBs.
In summation...you SEC officials are nothing but dirtbag shills whose real job is to maintain the illusion of a fair market place while you make certain that no real reforms are implemented or existing laws enforced. Elimination of the uptick rule is a perfectly revealing indication of what WS lapdogs you guys truly are.