October 14, 2008
Great to have rules but there is no penalties being enforced. WM has been naked short for weeks with nothing being done and nobody requiring delivery. All trades should be cancelled if naked shorting is done and the naked shorter profited. At a minimum there must be a penalty assessed of $10/share which would keep people from shorting as they don't normally see such swings.
Something must be done and the government continues to do nothing other than make rules that they don't enforce or they randomly choose to enforce with little penalties.