July 18, 2008
I strongly support the SEC's recent actions on naked short selling. It makes good sense to reduce the tools that speculators can use to profit while destroying important financial institutions. The SEC should be applauded for taking these first steps. Now these rules should be made permanent and expanded to more companies. Smaller thrifts and banks are likely to be the next targets. Our company's employees work hard and need secure, affordable mortgages and safe savings. The SEC should not allow well-healed speculators to threaten that with the rumor/naked short sale gambit.