rrm, just one note about the SEC, DTCC & Naked Shorting. The fellow failed to mention that the DTCC, with the blessing of the SEC, forgave all of the outstanding naked shorts throough 2005. That was, in my opinion, just plain robbery against the small investor and billions of dollars in-the-pocket for the MM's.
Then, the SEC & DTCC refuse to let anyone know the extent (in dollars) that this had on investors.
That's why I love agency law so well.
Anyway, I also have Sanity Check on my "Favorites" list. I really like the site.