http://www.bloomberg.com/apps/news?pid=20601087&sid=aPokh6La9.HY&refer=home ``In addition to this emergency order, we will undertake a rulemaking to address the same issues across the entire market,'' Cox said in his remarks to the committee." ------------------------------------------------- Finally getting serious about naked shorting??? Could be some major squeeze fuel there.
------------------------------------------------ edit... saw flytiger already got it. I could never get a new thread I started to delete.. so be it.
Traders are soon going to be on the endangered species list, they are hunting for people to blame, and speculators are first on the list.
No doubt. Like I said, how fucking stupid. Try getting better people in these companies who can actually run them, and don't make poor business decisions while trying to screw the public. Yeah, no uptick rule is what sunk BSC. And the subprime shit - that was trader's fault too.
I don't seem to think some of the posters comprehend what this is about. It is not about deterring shorting, which is perfectly fine for companies that aren't performing well or lying.,, whatever. I'm 100% for that. Naked shorting is a whole nother ball game and SHOULD be enforced. It's like creating fantasy paper out of thin air whenever you feel like it, to move markets whichever direction you feel like (that is if you are a brokerage/specialist/mm). Total distortion of supply/demand/accounting and an outrageous crime IMO. Either follow the law, enforce it, or let the law of the jungle rule. Why even have metrics like float, shares outstanding, and for that matter even accounting. Just call it opaque fantasy land or monopoly world.
SHORTING Stocks or any other security is not the problem with Financial Co's. It is their Balance Sheets and Earnings and all the other poor investment decisions they made. Market should be fluid and provide liquidity. If an Investor feels a stock is going down they should be able to enter a position on the short side if they feel a stock or security or commodity price is headed lower. End of Story.