August 6, 2008
I've watched some of my investments like Sangamo (SGMO) decimated by naked short selling. SGMO has been on the RegSHO threshold list for weeks.
Rather than see a list of companies (victims) on the RegSHO Fail To Deliver threshold list, I'd like to see a list of Broker/Dealers and Hedge Funds that persistently Fail To Deliver, as well as a current accounting of the quantity of FTD's and affected firms for each Broker/Dealer and Hedge Fund.
Naked Shorting is systematically undermining our capital markets to the benefit of hedge funds and banks and to the detriment of ordinary Americans and American companies.
Please put a stop to this plague and expose those who are the most blatent offenders. Enforce RegSHO delivery requirements and apply meaningful financial and criminal penalties to those that game the system.