To: devane617
Shouldn't naked short selling be illegal?
Why should anyone be allowed to short a commodity that they do not have control of in the first place?
3 posted on
09/18/2008 6:01:58 AM PDT by
pnh102
(Save America - Ban Ethanol Now!)
To: pnh102
They’re letting it all hang out on this issue.
7 posted on
09/18/2008 6:03:44 AM PDT by
MrB
(You can't reason people out of a position that they didn't use reason to get into in the first place)
To: pnh102
it should be illegal, and it is. but our absent sec looks the other way. the new rule will have little effect if the sec does not pursue the rule-breakers. our economy has been raped by the money grubbers on ws and we are now in a mess.
8 posted on
09/18/2008 6:05:15 AM PDT by
devane617
(Fish died on his Harley when he hit a camel at dusk.)
To: pnh102
Dirty little secert is the SEC & DTCC receive transaction fees, whether the stock is delivered or not.
9 posted on
09/18/2008 6:06:10 AM PDT by
stylin19a
To: pnh102
The definition of shorting is that you don’t have the control of the particular security in the first place. You have to borrow it from someone to sell it. The practice of naked shorting is selling the stock without locating the shares to borrow. Technically it’s legal for the brokers (only they can really do this FOR a client), however there have been abuses of it.
13 posted on
09/18/2008 6:14:24 AM PDT by
farlander
(Try not to wear milk bone underwear - it's a dog eat dog financial world)
To: pnh102
Shouldn't naked short selling be illegal? Probably.
35 posted on
09/18/2008 7:29:21 AM PDT by
newzjunkey
(McCain-Palin! YES CA Prop 4. (Family notification for underage abortions))
To: pnh102
Shouldn't naked short selling be illegal?It IS illegal...and HAS been illegal.
I've attempted to short stocks many times...where my brokers say "No Shares" available. Happens all the time.....
45 posted on
09/18/2008 8:06:54 AM PDT by
Osage Orange
(We are the ones we've been waiting for. We are the change that we seek. - Obama)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson