February 1, 2009
During the past Administration, I had requested that the SEC begin regulating naked shorting and place the “Vptick Rule”! back in effect. Mr Cox did not want to do it. By not regulating naked shorting, the investment banks and hedge funds can manipulate any stock they wish. That is not a level playing field, particularly when the little guy is trying to survive. Survival is different than manipulation for personal gain or grovernmental objectives. Manipulation is manipulation and there should be no exceptions.