July 17, 2008
I would like to see the following rules added to the referenced regulation.
1) Whereas short sellers can obtain tax free profits when a company is de-listed from an exchange the de-listing of a publicly traded company from an exchange should be a taxable event.
2) Whereas the failure of a short seller to deliver the shares borrowed in a timely manner effectively counterfeits those shares if the shares are not delivered by the transaction deadline the transaction should become null and void and no monies change hands.
3) Whereas the functioning of a national economy is dependant on the ability of enterprises to obtain capital and the people at large are adversely effected by the failure of that economy It should be a capital crime If it is determined that any publicly traded company has been driven into bankruptcy by aggressive naked short sellers. The charge should be treason.
Thank you for your attention.