In 2005 and 2006 everyone talked about market maker manipulation and naked shorting. It was a foregone conclusion that if we stopped the naked shorters our stocks could fly on their own merit. There were stories of companies that MMs sold more than the available authorized shares. Then 50+ penny stock scams were revealed one after another and everyone shut-up about the conspiracy.
We know the MMs do play games to make a market because they almost never accurately reflect the bid price. The question is if the purpose is to unnaturally depress a stock or is this done to help make a market? I wish I had the answer to that question.
Quote 03-19-08
"Yes, we must, indeed, all hang together, or most assuredly we shall all hang separately." ~Benjamin Franklin to John Hancock