How do you suppose offshore shorting takes place without the transfer agent noticing that there are a billion shares in the O/S, but he has records of owners holding 2 billion shares?
This is why the "naked shorting" myth is so much bullshit. Naked shorts always get caught unless the transfer agent is part of the shorting. And those eventually get caught by the company, unless they're part of it too.
And by the way, when naked shorting has been caught, the solution is a fine (to the SEC) or jail, it's NEVER "force them to cover". And it never will be.
The death spiral convert holders are the ones who make all the money on these stinky pinkies - as well as insiders, because the death spirals short to retail, then cover from the company at a large discount. The company gets money to operate, the death spiral gets a nice profit and the only lose is the retail buyer.
Market Data 
Markets 
AI
