MarionPolk

Short Cox: Panic-Stricken Regulator Is Walking It Back

Are the SEC commissioners criminals or idiots? FRE has current open put contracts that could have allowed the sale of over 45 million shares "created" by the OMM exemption.

If in fact the SEC allows the OMM exemption to continue, then any other restrictions on naked short sales aren't worth the bandwidth used to publish them.

Unlimited share creation equals unlimited capital destruction. Granted no journalist could be expected to grasp this simple concept, but it could be hoped that SEC commissioners are more sophisticated than stenographers, who just transcribe and print the contents of phone calls they receive from hedge fund managers.