bearfund

The SEC's Campaign Against Naked Shorting: Misguided or Right On?

I'll take (C). We were extremely oversold and a lot of good companies had taken beatings that were not justified by fundamentals. Of course, a lot of companies whose shares are short to zero candidates were doing better than they should, but that's neither here nor there. The SEC's guidelines are BS; naked shorting has always been illegal in any issue and it would not hurt the market a bit to enforce that rule. Shorts have a legitimate place in the market and everyone needs to acknowledge that. But they also need to borrow the shares they sell. Failure to deliver should result in an automatic loss of one's seat on the exchange. That would put an immediate stop to naked shorting. And this should apply to all issues, not just the chosen 19.