Naked Shorting is the practice of selling short a stock that the Seller has no ability or intention to borrow for delivery to the Buyer. This trade will fail normal trade settlement requirements and will result in additional dilution of your investment. The SEC has identified the perils of dilution and yet they continue to allow Naked Shorting to dilute stocks without any controls to protect investors. The SEC admits this dilution could be greater than 100% of the registered shares in the Company in which you are invested.
To learn more about this, visit our Media Links page where there are links to many public documents on this issue. How Naked Shorting Affects us all: Naked Shorting creates an imbalance between normal supply and demand and will depress any security being abused by the overselling of its stock. The loss in market capitalization results in less money available to support economic growth through consumer spending. The profits of naked shorting for the short seller, is far less than the losses those shareholders suffer due to the drop in market capitalization. This is an overall net loss to our economic stimulus.
More importantly however, Naked Shorting steals some of the greatest ideas, products, and services in America. Small Micro-Cap companies are driven out of Business by this abuse and we are left with the unknowns of what these companies and their employees had to offer our futures. The opportunities for the next Microsoft may never be felt as naked shorting snuffed out that creativity before it was ever brought to fruition. Ultimately, Naked Shorting steals from the very foundation of our Nation as it steals the American Dream of Opportunity. How you can help: Congress has told me that one of the primary reasons that our issue has not seen the attention we seek is due to a lack of visibility to the issue. Congress is not seeing their constituent's voice concern over this issue and has failed to see any appreciable media attention on this abuse. They are listening and believing what the SEC tells them because that is how Washington operates. You can help enlighten them by doing two things.
First. Sign this petition and seek out others to do the same. Congress works off the voice of their constituents and we need signatures identifying your dismay at the failures of the SEC. Like any petition, we need the labor force to pass the petitions around. Those laborers are you. When we reach a number that serves our goal we will submit the entire package to Congress for review
Second. Contact your Congressional Representative (Senate and House) by phone or E-Mail and let them know how you feel. They need to hear it. To locate your Congressman or Senator we have placed a link in the Media Section for your ease. We recommend you also contact the following individuals and let them know you are concerned. In calling these individuals, our message(s) will not be as diluted as are our investments Lawranne Stewart - House Financial Services (202) 225-4247 Brack Hudson - Senate Banking Committee (202) 224-7391 Members of the House Sub-Committee on Financial Services ( SEC Oversight sub-committee) http://financialservices.house.gov/members.asp?comm=1
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It seems to me that naked shorting exhibits the highest of American Ideas, looking at washington d.c. Naked shorting is creating and requires, perhaps, genius.
Naked shorting exhibits:
1) Greed 2) Lust 3) Theft 4) Financial Knowhow 5) Getting rich off other peoples money 6) Sneakiness 7) Lies 8) Not working 9) Computer skills 10) Gambling 11) Expert use of the system
In short, naked shorting displays all the personal traits we admire in our beloved washington job-for-lifers and Texiots.
Posts: 726 | From: Delta Quadrant, Borg Cube 01 | Registered: Dec 2005
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