Your input highlighting main points to tell congressmen about naked shorting

Discussion in 'Trading' started by Option Trader, Aug 21, 2008.

  1. Congressmen have been sent many letters against naked shorting, yet it seems to me providing them with an organized list highlighting the top 25-50 points versus naked shorting would definitely prove beneficial to help assure they can provide maximum pressure on the SEC to tighten the screws properly. Please provide your input (the more clear & concise the better )--so it can be made readily available to whoever will take such/ similar initiative in their state.

    Thank you in advance.
  2. Excuse my ignorance....

    What's so bad about naked shorting?

    I mean I would never, ever do it, I don't short anything with out some sort of hedge, but what's the problem with it in the way it relates to the market?
  3. Honorable Senator Screwdriver,

    I run a small Liquor store and when I first opened, I would eat my lunch in the back room and when I returned I found a note near the cash register, it read "I'll gladly pay you Tuesday for a bottle of 'Easy Jesus' today". Well this was legite.

    But over the last several years, when I return from lunch I noticed many bottles of "Easy Jesus" are missing and no one leaves a note.

    I'm being robbed.


    CEO Bagholder Liquuor Shoppe Emporium
  4. maxpi


    Mr. Congresshole

    Naked shorting has hurt struggling companies for years but when it affects Fanny and Freddie your regulators jump into action, why is that?
  5. Seems to me the average congresscritter would be thinking 'naked shorting' would be something done in a back room with their favorite young intern. :eek:

    They are not into much real world usefulness when it comes to economic functions at all. I.E. the national budget?
  6. My response to the title of this thread would be : Never try to teach a pig to wastes your time and annoys the pig.
  7. You are right so far, I was hoping for much higher quality input from the ET folks.
  8. gaj


    1) there's rules on naked shorting on the books. don't make up more rules; just enforce the ones we have.
    2) give the SEC all the fees that traders supply, instead of holding it up.
    3) just as shares must be located before a person can sell them, make sure they can be located before the person can buy them. just as 150% of a stock shouldn't be short, 150% of a stock shouldn't be long.
  9. Good reply.