August 6, 2008
I support extending this emergency order being extended to the whole market especially in light of recent litigation announced that sheds doubt that the DTC has a clear accounting of the correct number of shares they hold and their subsequent obvious lack of controls into the release of illegal shares into the market whether from NSS or illegal distributions and their failure to notify the SEC of these activities.
Until the GAO can determine the depth of the problems, I believe it is your duty to act to protect the investors from any possible scenario. Requiring pre-borrowing on stock to sell short is the very least a prudent regulator would take until the picture is clearer and we all know that the shares that are held in our 401K and investment accounts are genuine.