August 19, 2008
Look at the trading of ELN during the period July 29, 2008 through August 1, 2008 for a perfect example of the damage caused by naked shorting, causing a panic based on misinformation leading to a stampede of selling. This practice must be made illegal, and the law must be enforced. Enough of rules being made and enforced selectively to protect the wrongdoers. Why must we rely on the New York Attorney General to protect investors? Where is the SEC?