July 19, 2008
Have you heard of equal protection under the law? Naked shorting is illegal, so to selectively apply measures to enforce the law is administrative arrogance. Either enforce laws against naked shorting for all securities or for none. There is a lot of naked shorting, but not in the major financials, which are easy to borrow.
Former SVP Finance of Federal Farm Credit Banks Funding Corp, former investment banker, former employee of the US Treasury-OASIA.