Petition on Market Reform! RegSho only indicates NakedSHort is taking place but lets enforce some penalties. Please sign this petition.
http://www.thesanitycheck.com/Home/tabid/36/Default.aspx
Introduction
The U.S. stock markets face a crisis, due to the failure of market participants (brokers and hedge funds) to deliver shares of stock they’ve sold. Because of the structure of the market system, sellers can process transactions, get paid, and then fail to deliver stock to the buyer, essentially refusing to make good on their sale. This creates an environment where investors pay money for their “buys” and yet don’t get their stock – and their brokers don’t alert them when it happens, as they would then have to break the trade, and refund the commissions. Instead, the broker places a marker in investor accounts, an IOU, which is represented to the investor as the genuine article. This is fraudulent, and badly skews the supply/demand equation investors rely on for fair valuation of their holdings. There are rules against all this, but they are rarely enforced, and there are numerous loopholes, with virtually no penalties for violations.