July 9, 2008
One needs only to look at the Threshold List to become convinced that either reg SHO or the SEC is toothless. I will give you the benefit of the doubt and say that the crooks that you are supposed to police are just too smart to keep cornered . Outlaw naked shorting and take away the options MM exemption and solve this problem in one stroke. Anyone in their right mind knows that the MM's idea of an orderly market is one where they can steal every day. Do it today. Nothing or no one needs to be grandfathered for one minute. You have had plenty of time to talk and think about this sorry situation: it is time to act if your agency has any integrity whatsoever. The worldwide economic crisis being faced today has been brought on by the greed and corruption of the people and industry that you are supposed to be regulating but have allowed to run wild. You have said and I have to accept that Naked Shorting and FTD's are a small part of daily trading volume, however, they are crushing to the victims who are getting robbed. If ratios are a factor in this issue, you can rest assured that there are a lot more people getting robbed than doing the robbing so let's do what's good for the majority. Eliminate this cancer and bring a little creditability to yourself. H. C. Carson