The SEC moves to quell "naked shorting". F-i-n-a-l-l-y.
As the number of brokers diminishes, it should be easier to enforce ...
Except that, the last time I looked at a case, it appeared that the Hedge Fund culprit in question was shorting the stock naked out of a Canadian broker.
Therefore, could be more work needed.
I'd say to wake up Bush, if I didn't think that was like loosing a cannon.
Unlike regular short-selling, which is just fine, naked short selling in any kind of quantity is seriously out of bounds.
Wednesday, September 17, 2008
Naked Shorting
