Replies to post #1511 on The Authoritative NSS Page (NAKED)

[breezin_chs]

4kids, thanks for the info and link.

http://norris.blogs.nytimes.com/2009/04/30/is-naked-shorting-gone/?pagemode=print

Despite all the egg on his face, it's good to see that Floyd Norris is at least talking to Patrick Byrne.

It's amazing that an individual has to explain the (purposefully?) complicated stuff to Congress, the press and the rest of us: the other nooks and crannies of the system - broker-level netting, pre-netting, Stock Borrow Program, ex-clearing and off-shore failures.

The best hope for a level playing field occurred two days ago, IMO. If the SEC is blind, the rest of us don't stand a chance.

http://sec.gov/news/press/2010/2010-86.htm
SEC Proposes Consolidated Audit Trail System to Better Track Market Trades

May 26, 2010 — The Securities and Exchange Commission today proposed a new rule that would require the self-regulatory organizations (SROs) to establish a consolidated audit trail system that would enable regulators to track information related to trading orders received and executed across the securities markets.