January 2, 2009
Why should short sales (like everything else in the securities industry) be a secret. It would be no problem to identify the people that are selling short. They are currently hidden in with the people listed "asking". The current system could identify them as short sales by using a different font or color. The same for people buying to cover, they are mixed in with the "bids". Again why do they have to be a secret, why not let everyone know who is short or buying to cover.
Give me one rational reason why they have to be camouflaged? I know it would change the way I trade if I saw everyone in the ask column was going short. It is only fair to identify them.
If you want things to be a secret, like the results of and SEC investigation, which is nothing more than help hide violators, just show one number the last trade, let people watch it go up and down. Why should a short sale have the right to be a secret. The security industry has too many secrets already.
How many more people have to be cheated out of their investments, retirement and life savings because the security industry regulates itself. When is this country going to see the greed on wall street is ruining the country. Most of the greed is because of 40 year old laws the industry makes for itself. Look at the last 50 billion ponzy, Enron and God knows how many others because everything is a secret. People are hiding behind the word capitalism to allow broker/dealers to rob without a gun! And then the SEC goes along with the plan to keep it a secret, because the person paid a fine and admitted no guilt. Why is it any different than a man robbing you? Your money is still gone? The crap about not exposing a name because it may hurt someone down the road is pure legalized stealing. The robber's name is in the public, even if he is found not guilty, why does a broker dealer deserve and different? You people need to speak-up about the industry, instead you go along with their rules. When are your going to start caring about the person that was robbed and not the broker dealer?????
mjbeem