July 15, 2008
I strongly support the Commissions proposed elimination of Regulation SHOs options market maker exception and encourage the Commission to complete the administrative steps to accomplish this change immeadiately without fail. This is pure market maker manipulation and must be eliminated now for everyone's sake. However, these proposed changes alone will not adequately solve the problem that results in continued naked shorting. I strongly urge the Commission impose in Regulation SHO a requirement of a firm location of shares to be borrowed before a short sale can be executed.
Many shareholders understand perfectly what has been transpiring and have had enough. Naked shorting should never be allowed in any form. Securities fraud and market manipulation is destroying investors, public issuers, and our US economy. Any delay or inaction on behalf of the SEC in new regulatory guidance and in its enforcement of existing regulations contributes to this egregious situation