May 8, 2009
Short selling should never be permitted. It allows stock manipulation and is open to all kinds of abuse. If you want to sell something you own for less, then go ahead. But to be allowed to "borrow some from someone elses brokerage account then sell it low and buy it back later and replace it to the account allows those people closest to the business to drive stock prices in a company down artificially low and maybe to bankruptcy.It hurts investors who can't react fast enough to respond and only helps the manipulators. Then there's "naked short selling." You don't want to hear my comments on those . And why haven't those been investigated and prosecuted ? Is everybody in government in the pocket of the Wall Street fat cats? Lets get to it SEC