Well I'm glad I'm not the only one who things dang near the entire float is short in some way or another.
In every case involving NSS it always leads back to the brokerage. With the individual you mention in your post, if the investor were not allowed to short it because no shares were available as should be the case then you can't really pin it on him/her. I've shorted many stocks over the years, never one that wasn't allowed by my broker and never one sub $5 bucks (and never one which I believed had as much potential as GSCR because I didn't want to wake up to a butt kicking one morning). I have nothing against shorts in general. I have a big beef with the manipulators that allow a NSS position to start and persist with the goal of driving the price down to suit hedge funds and their own agenda(s).
However, the main culprit is the SEC who sits idly by wasting the f**ing crap out of every American taxpayers dollars and does absolutely nothing but spout and spitter jibberish and come up with more rules. We don't need more rules, we need serious jail time for those who promulgate naked shorting. We need a housecleaning in the SEC. Everyone above the secretary and the mailroom boy needs to lose their job. No telling how much money honest investors and traders are screwed out of each year by the practice of NSS...probably in the tens of billions of dollars yearly. In many cases, these are not middle age seasoned investors and traders but people who don't make a whole heckuva lot of money and are investing what they have in the hopes of sending kids to college or retirement. They are fleeced by a scheme designed to manipulate the price of goods/commodities/securities.
In the late 1800's, they tarred and feathered (sometimes much worse) folks who did similar things. Shucks, horse thieves were hung by the neck until dead. Is this any different? Regardless of the spin, it boils down to thievery by deception. It is a serious crime and the punishment should be severe.
Lie about something you sell on eBay and see if you don't get banned. It is a freakin crying out loud shame that a corporation would have better and more strict enforcement of rules than a branch of the Federal government. It is what it is, and it is wrong.
OK, I'll get off of the soapbox now, someone else's turn...
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