that is a great ~
and highly informative article
thanks for the post .. don
i know .. was *truly* shocked
to read this ... not ~
who says filing .. daily and
weekly complaints against Knight
~ and anyone else stupid enough
to *play* their *game* .. won't
*eventually* get results ~
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"The majority of these failures-to-deliver are not the result of honest mistakes or bad processing," former SEC commissioner Roel Campos wrote in a letter posted on the SEC's Web site. "Rather, these companies are instead targets of illegal and manipulative trading, with intentional failures-to-deliver used by traders to extract profits as the share price plummets."
An SEC spokesman said in an email: "Reducing long-standing failures to deliver has been central to commission actions in this area."
Peter Chepucavage, a former counsel at the SEC who helped draft Regulation SHO, said the initial weakness of the rule and the years it took the SEC to stiffen it can be traced to the lobbying efforts of hedge funds and Wall Street.
Brokerage firms "have made huge amounts of money" facilitating short selling, said Mr. Chepucavage, general counsel for Plexus Consulting Group, a Washington firm that advises nonprofit firms and broker-dealers. "They want and have argued strenuously for flexibility."
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4kids
all jmo