Replies to post #77321 on Intel Corp (INTC)

[Elmer Phud]

The problem may have been naked short-selling.

Yes, thanks for reminding me about that one. Maybe in another couple of years they'll get around to considering that one too.

[mas]

Naked Shorting: Companies appeal to SEC

http://www.sec.gov/comments/s7-30-08/s73008-108.pdf

This letter presents the views of a group of issuers (public companies) regarding naked short selling. As a fundamental matter, this group does not seek to limit or to prohibit legitimate short selling. Short sales are acknowledged as important to the markets in providing price discovery, liquidity, and balance. In contrast, naked short selling is a tool to violate the securities laws and continues to cause damage to issuers and their shareholders (including pension funds, 401 (k) holders, and retail shareholders). In evaluating the need for further changes to Regulation SHO, it is important that the Securities and Exchange Commission (the "Commission") take into account the viewpoint of issuers and their shareholders and not simply those of professional traders and organizations that service the market. In the current climate of financial crisis, naked short selling is the "proverbial fuel on the fire" that can vastly accelerate the downward pressure on share prices. Naked short selling will also impede and thwart the national goals of TARP and the rescue of the U.S. bank system ...