May 10, 2009
It is now commonly perceived by American Investors everywhere that the SEC is running afoul of the Currency Conterfeiting laws in the USA by allowing ANY naked short shares to remain undelivered within the 3 day window the SEC itself wrote in the SEC regulations regarding same. Perhaps a visit to http://www.treas.gov/usss/counterfeit.shtml
will jog the memories of all those Algore hanging chad lawyers still working at the SEC. At the very least a Windfall Profits Tax ought be considered on ALL future capital destruction income by illegal shorts, and illegal speculators in credit derivatives, especially when the speculator concerned is the same individual, with no interest other than profit motive. That the SEC successfully emboldened these speculators, beginning in 2007, is NOT viewed as one of the primal causes of the global capital destruction since October 2007 points solely to the incompetence of the American Media, Congress, and the SEC itself...of course with the complicit assistance of American Academia and financial regulators outside the SEC. Of small assistance in restoring the confidence of investors everywhere, reinstating Reg. SHO is at best a small step in the right direction.