MMs are in trouble now that we're on the FTD list. Shares that are shorted are not being borrowed against real shares.
I've read this same assertion for years on these boards, usually accompanied by dire wishes for the fates of MM's.
Can anyone provide me with a single example of any MM's going down in flames, being 'ruined' or being arrested and prosecuted for the kind of manipulation/naked shorting being described here?
It's beeen asserted so often that it amounts to a virtual crime wave in the penny markets, if accurate. In fact it sounds so obvious that it defies credulity that people's whose 'business' it is to prosecute either can't find malfeasance or that they deiberately decide to ignore it.
The description of naked shorting that you posted was explicit in describing illegality.
Prosecutions and convictions make legal careers, why NOT go after the low hanging fruit described here?