No argument there about naked shorting. I think covered shorting should be illegal. What other industry can you borrow something that someone holds title to, sell it, and promise to buy them another one? Can't do that with real estate, automobiles, boats, aircraft, etc.
I can't speak to the higher ups at the SEC but I know the rank and file are good, hard workers fighting for the integrity of our markets.
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All my posts are my own personal opinion and speculation. They should not be used as the basis for any investment decision. No, I am not Scottsmith.