April 4, 2008
This practice has been tolerated far too long. If this were money instead of securities it would be called counterfeiting. Fraud is not a strong enough word to describe a practice that has been used to put good companies with innovative ideas out of business. I own a position in BRLC and you can watch how in-the-money put options are opened and closed daily to allow the Market Maker to maintain the naked short position.