Who's to blame....Enforcement actions.........I also found this relevant post on another board. In addition to the negative (MM shorts) trading transactions I posted earlier, this re-post gives us an idea of who's to blame & what can be done about it. Near as I can tell, it also explains SARO's inclusion on the SHO list .... again; nothing that is within FasTechs control (or responsible for). ...................................................................................................................................... Well these MM's might be thinking twice now on whether or not to short. Check this out:
Quote:
Aug 5, 2009, 3:11 p.m. EST SEC charges traders for 'naked' short violations By Ronald D. Orol
WASHINGTON (MarketWatch) - The Securities and Exchange Commission on Wednesday took its first enforcement action for violations of the agency's rules seeking to prevent naked short selling, an abuse considered a key contributor to the financial crisis. The agency charged two options traders, Hazen Capital Management LLC and TJM Proprietary Trading LLC, and their broker-dealers for the violations. Naked short selling is the practice of selling a stock short without first borrowing the security or ensuring that the security can be borrowed as is done in a conventional short sale. The firms and individuals agreed to settle the agency's charges without admitting or denying the findings.
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