Have you ever thought how much market makers are at any time "Short in the process of making a LIQUID market"? A proccess allowed by the SEC; BTW.
Any of these 'bad' marketing/trading issues will occure as long as a company lets the market get away with it. Thinking and waiting on the SEC to police it, little more stopping it,is (politely speaking) dreaming. As their CFO (or higher Up), the 'Rodney Dangerfield syndrom' would come to a screeching halt.
Hock....This same phenomenon existed with JCOM some years ago when I traded it (very predictable stock) and the the institutional holdings were at 120%. It was determined that it was because a lot of funds (hedgies) were both long and short and naked. This skews the actual holdings measurabley and makes it hard to read the long and short positions without the short interest report.