May 8, 2009
IF THIS IS REALLY GOING TO BE AN HONEST EFFORT TO REALLY FULFILL THE PROMISE TO ALL INVESTORS THAT THE STOCK MARKET WILL HENCEFORTH BE "FAIR, OPEN AND HONEST" for all participants---a truly level playing field with no "bootleging' plays, no ringers, no players on steroids, no FTD'S, no DARK POOLS, THEN THE FOLLOWING IS THE ONLY WAY TO ACCOMPLISH THAT GOAL.
Let the speculators play together with their peers in the options market where everyone knows what game is being played and the stock market is reserved for investors only.
The real issue being addressed in this debate is moral and ethical---selling any share of stock under the guise that the seller is the owner and delivery is assured and immediate just like the payment when in fact the share being sold actually belongs to someone else both before and after the sale and may or may not ever be delivered. At an absolute minimum, morally and ethically, if any shares are to be sold short they should be identified as such to the targeted buyers who may THEN knowingly engage in a trade which is actually a promise to deliver to someone who promises to pay WHEN DELIVERED.
We then have an equation i.e. what is on one side of the = sign is equal to what is on the other side, that is the only fair, honest and open trade which the market purports to ensure.
AND---NO EXCEPTIONS FOR ANYONE FOR ANY PURPOSE--LIQUIDITY, PRICE DISCOVERY, REAL SUPPLY AND DEMAND ETC.ETC.--ALL THE SHIBBOLETHS INVENTED BY THE PREDATORS TO JUSTIFY THEIR LICENSE TO STEAL FROM ORDINARY INVESTORS. george c. vlahos