The SEC should focus its energy on something with a real purpose. As far as the crooks on WS go, SERIOUS, COMPREHENSIVE reform is needed. Recent changes in law making it ILLEGAL to short nakedly must now be followed with simple enough but COMPREHENSIVE data systems to validate that each “market maker” (MM) is ONLY selling/buying shares he/she ACTUALLY HAS—and that exchanges BETWEEN MMs are accounted within this equation in the same manner as well. All of these steps would remove most of the shadiness and guesswork that currently encrust most transactions of stocks—particularly in the OTC. TRANSPARENCY ALONE will allow folks to know a truer sense of appropriate valuation of a given share of stock. There is no reason WHATSOEVER that we cannot, using EXISTING technology, map EVERY SINGLE SHARE traded to a legitimately existing share—in real time. This would be a huge advance and MUST be done ASAP. The “democratizing” effect would be profound...
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