I demonstrated this practice is wide-spread. The numbers in REG SHO lists are false and misleading and wrong with regard to the numbers of shares naked shorted on a stock. The "ex-clearing" system, between broker/dealers, who naked short and clear outside of the DTCC, si totally unregulated. The numbers provided by the DTCC itself are wrong...I know...I helped design some of the systems at DTCC those mainframe reports, REGI SHO uses back in the 1980s.
I brought academic and former regulators who rpove the numbers on REG SHO are wrong.
If you think GTE is not one of the companies suffering under this....you are being naieve and my "assertions" are on more solid foundation than labrador"'s that is for sure.