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blackcat

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Re: Brad1177 post# 2385

Wednesday, 03/05/2014 10:51:34 AM

Wednesday, March 05, 2014 10:51:34 AM

Post# of 9534
Just as an FYI, that is not necessarily true.

A recent headline exposed illegal naked shorting and immoral practices at Goldman Sachs (NYSE: GS) and Bank of America (NYSE: BAC) (Goldman, Merrill E-Mails Show Naked Shorting, Filing Says?).

Many retail investors think by placing a Good Till Canceled order (GTC) they can prevent their shares from being lent. A quick survey of some brokers indicated this to be more of a myth than reality. While some brokers may act as such, most don't recognize an open order as prohibitive of lending shares.

http://beta.fool.com/beatlesforever/2012/06/04/shortlending/5274/

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