simple simon

SEC Exploring Remedies for Short-Selling Manipulation

I've got a much simpler idea. Ban all short selling!. Other than provide speculators the opportunities to manipulate stock priceis downward, what is the economic purpose of short selling? Don't tell me it is a mechanism to curtail irrational exhuberance to the upside. That is pure poppycock. Let the law of true supply and demand work. If one believes that a stock is overpriced one would simply adjust their bid accordingly.to buy.
If a seller wants to really sell, he meets the bid. Pretty simple as I see it.
Where else than Wall St can someone sell property that they don't own (sell stock short) or sell property that does not exist (naked short selling) for a profit.?Boggles my mind that this scheme is allowed to flourish as long as it has.