Negligible in the near future. But the process that is starting will reveal the level of deceit and corruption that currently exists. If that turns out to be the case, enforcement should eventually follow and spill over into the general market where naked shorting has become a 'ho-hum so what else is new' accepted abuse. My main issue is the lack transparency of these transactions. If 'naked' transaction were reported as such, and in real time, their game would be over with and a more normal market that actually decides share value could then exist. Lets face it the ability to sell something that you do not own while you cover up the act is a very powerful tool when the goal is to depress value, and naked shorting can and has shorted companies into oblivion.
Every action creates a re-action so illegal short selling reform will come. When, who knows but it seems to be coming. Prosecution will occur and that message will be sent. Instant reform never happens and too rapid covering of positions would create a false market although it would be fun to see the worm turn. I do not see TIV as a good example to use of what is taking place though as there are numerous questions yet to be answered at TIV as Geo repeatedly (and accurately in my opinion) points out to us.
OOPS! Got distracted by a phone and a lot seems to have happened at TIV in these last 10 minutes, and I guess the questions are indeed now getting answered.
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