September 11, 2008
Hello. I know you guys are trying hard over there.
But, the SEC must stop the practice of naked shorting entirely and do it now. No one who works at a respectable firm is allowed to do this practice. Therefore, it's only the unregulated hedge funds that can do it.
Stop this now. It is killing our market and is reducing investor confidence every day.
Your agency thankfully suspended it temporarily, but why only on a temporary basis?
Investors think that more is behind this namely the lobbying of hedge funds. I hear it often from my clients.
Please stop this practice immediately.
Thank you for your efforts.
Grant A. Baker
Vice President - Wealth Management