There are billions of dollars in technology deployed and connecting all of these brokers, exchanges and regulators. How hard would it be to establish a centralized electronic exchange for tracking and loaning shorts? Charge a nominal exchange fee per transaction.. Make it visible and serialize the shares available for loan... Screw the uptick rule... Just make pre-borrow mandatory... This electronic exchange can clear instantly and settle daily. Brokers and clients get a receipt... transaction ID and everyone is happy. This is not rocket science to automate... Hell Tax it $1 for the bail out slush fund.