I watched that video...it lasted an hour or so but was well worth it. The people at the SEC are turning a blind eye to it because if all the Naked Shorts were forced to cover their naked ass they would bring the whole stock trading system down. I love the part where they deny that any significant naked short exists but then won't release the information to prove their case. They are odviously lying. I think they stated that it could harm a MM if their positions are shown because people like us could band together and start a short squeeze. So they are talking out both sides of their ass.
The most enlightening point was a prediction that the SEC will eventually be embarrassed by a legal suit started at the state level. The SEC will do nothing until it's humiliated in public.
Anybody who thinks naked shorting isn't a major problem should watch this video first. And after watching you still don't think there's a problem, well, "there ain't no cure for stupid!"
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