July 16, 2008
I highly endorse your efforts to end the options market maker exception in Regulation SHO. I am one of many investors who is losing confidence in the just operation of our financial markets. Closing this loophole is one step to restoring my confidence. Another action that I think is required is to stipulate that SEC Chairman Cox's emergency order stating that all short sales of shares in various financial companies will be subject to a "pre-borrow" requirement be applied broadly to ALL listed stocks. If naked short selling of stocks is a problem, FIX IT. I don't think that having this as a temporary provision for 30 days buys anything except 30 days without mischief.