June 14, 2011
Real time reporting of shorts makes a lot of sense.
Im all for it. Its also pointless to just report to regulators it needs to be public info.
Also I like the idea of reporting each type of transaction.
But im sure your pals in wall street would object.
The way it is now it is a real scam. Shorts are not reported and even naked shorts are all over. Yet the SEC does not do any thing. I think the the SEC is not doing it's job to protect investors, and should be replaced with a new group with out so many ties to wall street and with fair rules. Look what they did to the up tick rule they changed it to a down tick rule.
If you really want to fix this mess access a .00001 cent tax on every transaction that way at least you will know that a transaction existed and the IRS can be more watchful.
As it is now posted prices are not guaranteed they could be just sham prices.