Well, KP, I can certainly appreciate the investor's point of view on this. There is no question that naked shorting can pummel their investments and hinder a company's ability to raise capital. So let's agree there. But I'll part ways with you on whether it ought to be illegal or not.
Everything that is done to prevent people from losing money on the stock exchanges makes it harder to make money. As more and more rules are layered on, the equity investments in public companies become more and more like cash.
I say, "If you don't like the rules, don't play the game." (Now someone be sure and quote that out of context.)
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