Phil Anthropy

Dendreon: I Want the Truth

I have read about "failure to deliver" issues with naked shorts. My readings indicate that this happens on a larger scale than most people realize, that the SEC is fully aware of it and does little or nothing, that investors don't know whether the shares in their stock accounts are real, and that the risk is on the shoulders of small investors. The moral of the story is that the stock market, as with most other big business, is controlled by large, vested interests, and they can do what they want without fear of reprisal. The government does not have the resources to stop them, in my opinion, and may indeed be more a partner than an adversary. If small investors fail to protect themselves with long puts or other downside insurance, the risk of catastrophic declines is omnipresent. Bear raids on stocks are easy money for market manipulators (not, of course, that markets are manipulated -- perish the thought).