it sure as hell is but the sec is a paper tiger
whose functioning gray matter is apparently on par
with a 2 year old

they figured when they *grandfathered* FTDs a decade back
that those who profit off of ignorance would just pack it all in

seriously ..

so now they are stuck with a system they've allowed to flourish
based on their incompetence (at best) or their collusion (at worst)

i actually expect the sec will be forced to re-grandfather FTDs
but only in conjunction with a phased in *electronic* tagging
of each publicly traded equities' stock >> so that hard locates
are actually *returned* b4 being sourced to be *reused*

imo the sec knows full well that the algo dance is mostly bogus
(volume isn't real trades .. just various entities operating in collusion
passing paper) ..

my time line on the sec's *regrandfathering* .. (unless hand is forced
by others not so accommodating as those who are protected) is 2018 to 2020

absolutely revolting what has been allowed by this *entity*

first round of discovery imo will answer *overlapping* interest
re: the author of that 9.28.10 letter to P2O to say nothing of *LONDON CALLING*

4kids