jim collins

SEC Retires 'Moron du Jour' Title

It doesn't gut anything, the market makers have to be able to short to offset writing puts. England made the same exception. What this does do do is prevent parasitic short sellers from destroying perfectly good companies. The government did exactly the right thing.
Christopher Cox is far from stupid. He has an an M.B.A. from Harvard Business School and a J.D. from Harvard Law School, where he was an Editor of the Harvard Law Review.