Thanks for asking for my comments on this subject.
First and foremost, Wow!!!!!
The Naked Short Selling (NSS) topic sure has come A LONG WAY for being just a "conspiracy theory" that did NOT exist from a year or so ago (according to the SEC, NASD and others) to being acknowledged, entered into the record and discussed on the floor of the United States Senate.
That in itself is amazing. Naked Short Selling (NSS) does exist and is a problem. I believe that formal disclosure on this is good, however instead of just discussing it, proper corrective action needs to be taken. It does not do much good to just "discuss" a matter.
Mark my words, there will possibly be some "knee jerk" legislation or new trading rules that will come from this once it gets more public exposure. However, that may not necessarily be good for the long haul. You are probably saying, "What? How can you not agree that any action taken to stop NSS would not be good for the long haul"?
Let me share with you my concerns as a whole in a later post.
The topic: I am becoming very concerned that a economic "Perfect Storm" may be brewing here for us in the United States. All of this directly ties in.
John
