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MrPastorious

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MrPastorious

Re: WhiteSahara post# 31886

Wednesday, 01/10/2007 6:47:59 PM

Wednesday, January 10, 2007 6:47:59 PM

Post# of 79921
I agree with everything except this statement ". Naked shorting is 100% income for the shorter if he never has to repurchase the stock. "
A NSS does not get the cash just by selling and failing to deliver,(if that was the case the clearing firms would be out of busines in a day) their accounts are credited and if they cover at a lower price, they then can get the cash. They do have to cover to get a settled balance unless the stock goes worthless.
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