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Re: *~1Best~* post# 57

Tuesday, 09/30/2008 11:53:31 AM

Tuesday, September 30, 2008 11:53:31 AM

Post# of 229
Main Street Slaughter: short fortune of 10+ Trillion and 1.86+ Trillion short fortune in a day with bailout Bait and previously shorting fortune with colluded fund power, Main Street is bleeding while Wall Street is profiting.

We need to establish better Rules and Regulations.

Including the following as Bruce stated and I also noted in the past.

1. Require a firm pre-borrow for all short trades. This should include the options MMs. Complete elimination of all forms of naked shorting.

2. Reinstate the uptick rule.

3. Require hedge funds to disclose and to file financial statements just like any other funds (all are much smaller) institutional investor.

4. Eliminate mark to market for illiquid assets. If they are not for sale, they should be valued according to model.