July 22, 2008
Naked short selling is out of control. Some have stated that the elimination of the Uptick rule created liquidity. It did. Money was forced out of retail investors accounts by the panick hedge funds have created using preditory shorting practices.
I can't understand why it was not obvious to the SEC that this was a bad idea. My conclusion is either stupidity or corruption. I would support a law suit if possible against the SEC on this matter.
How hard it it to see and understand that this practice creates a false supply in the market, that it defeates the basic market principles of supply and demand.
GOD YOU PEOPLE ARE THICK..