Naked shorting should have never been allowed, ever.
He should be sent to prison for allowing it in the first place.
And doing away with the uptick rule was just an ‘experiment’.
Yes, Cox ought to have resigned. But he was way out of his league in the first place. And if it’s true that the regulations were suggestions, then perhaps the mattress is the best place for our savings after all.
And of course, prohibition on shorting has nothing to do with Hedge Funds selling to cover redemptions, and the freefall the market is in right now - The SEC certainly knows what they are doing here. </sarc)