The SEC is the one who made the rules that the MM's have to live by and skewed it in their favor on purpose. By doing this they essentially created a new market where there was none (pink sheets). The SEC should adjust these rules to level the playing field but as of yet is reluctant to make any major changes. They have made a few small changes the past couple of years to give it the appearance of an attempt to curtail the improprieties but nothing has really changed. The MM's benefit when a stock does poorly and therefore they purposely cause stocks to go down and even can cause bankruptcy. In the latter incidence they really make out like a bandit since they have shares that they have sold and never have to cover.