October 22, 2008
The Sec can not allow full disclosure of short sales like long sales, If this information became apparent it would be obvious that naked short sales are not restricted by existing rules. In short sales the T+3 requirement says its OK to short stocks for 4 days then buy then back- and short them again for another 4 days-- in effect this continues the practice of Naked short sales with no requirement to repurchase shares ever.
All short sales should be disclosed immediately-and
the T+ 3 rule needs to be changed to T+0
This SEC is clearly against a fair market/
I suspect the stock market will continue to fall until the SEC requires and enforces rules that stop all short sales.
This I fear is not likely