August 11, 2008
Hi
Naked Short selling should be banned for ALL shares not just selected banks. Almost all of these banks are naked short selling shares on the pink sheet och OTC BB. If they can't be sold naked they shouldn't be able to sell naked either. There are no reason at all to allow any naked short selling at all. Regular short selling could be allowed if we got control mechanism to monitor everything.
ETF's should not be allowed to be sold short at all. GLD and SLV buys physical Gold and Silver. If someone naked short sell these shares they will be selling physical Gold, Silver but then the outstanding no. of shares does not hold the same amount of Gold, Silver any more. So these two physical ETF's are being manipulated with both naked short selling and ordinary short selling. Another name for this is "Manipulation".
/Lars