because the idiots buying don't care if delivered cause they are short term speculators . it's an intangible piece of paper. it's a con game. making money with betting on short position is not fraud. shorts are big part of this con game.
Ok, goodbye SEC. Ooh rah!!! Who's next though? I hope it's a little better. If not, maybe more common sense in 2008 with whoever the regulators will be over us? FINRA is a complete total nightmarish disaster! Even common Investors aren't getting anything out of them, and that's when REAL financial malpractice may have been involved!! They come into B/D's, stay a few Months, and impose some fines for this or that baby-bullshit making tons of $$$$$ as we pay it and shut the fu*k up... sadly. The big boys seem to pay the fines, and continue business as usual, while we Independent Brokers go broke with fines. Yes, the smaller the Firm, the more the regulators love to suck blood. Just wish I knew how to daytrade the ES, ER, and YM effectively like some of you, so I could give this mess to someone else to deal with. My Clients are happy. The regulators are trash. I don't understand what we've come to. I need a drink! Just kidding. No drink besides Diet Dr. Pepper, water, and three protein shakes/day. Damn tempting though...