personally, I feel that shorting should be done away with. The idea of the stock market is/was to invest in companies and help them to grow and gain with the company. A win win situation.
Shorting is betting against the company and really is only around to make money off of misfortune or bad news. It has come into it's own with online trading for $4 a trade and is what is causing the market to behave like a common casino.
My opinion is if you want to go to a casino go to Vegas if you want to invest and help a company grow get into the market. The two should not be the same.