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[QUOTE]Originally posted by Purl Gurl: [QB] Metal1, you are backpedaling on your previous statements. I have a sharp tongue and take pride in maintaining a sharp mind, although my mental sharpness fades with age. Shorting, as indicating in my previous article, is needed to counterbalance those who pump. Shorting and pumping are healthy, in this context of providing counterbalance and leveling stock prices to more true values. Nonetheless, this new NASD rule is without merit containing a deliberate hole for those I roll into one ball, Market Makers. This ball includes Market Makers, headtraders, specialists, brokers, company owners and others. Easier to label all as Market Makers. This hole is the NASD has placed criminals in charge of enforcing laws (rules) and no provision nor comment has been provided for violations of those rules. Placing Market Markets in charge of this new rule is to place wolves in charge of tending a sheep flock. Market Makers inherently have a huge host of excuses for wrongdoing. "I didn't know." "Didn't look that way to me." "A record keeping error is at fault." "Nobody watches nor cares, so why not?" This NASD rule is toothless and, in my dubious opinion, is nothing more than a political ploy to call off the dogs. This type of political ploy is indicative of favoritism, more often called corruption. SEC and their "SHO" rule. Absolutely and completely toothless. This new SHO rule to come is both a sham and a scam. This is another rule written to diminish very legitimate complaints by private investors. I view both NASD and the SEC as good examples of corruption and political favoritism. Why is this my view? Both the NASD and the SEC are populated by those who are the very crooks. When NASD and the SEC start pulling in members from our pool of private investors, only then will either have some degree of credibility. Currently NASD and the SEC are run by and for, Wall Street. On unethical shorting of brand name stocks such as Microsoft, IBM, Disney and others, the only reason Market Makers do not engage in unethical or illegal shorting of those stocks is it costs too much! There is no magic about less expensive stocks being shorted, and expensive stocks not being shorted. It is all a matter of money. This has nothing to do with ethics nor a lack of ability to short any stock. It is just money. All these scandals of late? Nothing new at all. The SEC and the Feds are prosecuting a few for public relations only, rather than for public protection. These "captures" of crooks, only represent a tiny percentage of the crime being committed out there. NASD, SEC, Feds, others, they are actively engaging in a ploy to fool the public. During my dialogs with the SEC, they produced only two prosecutions for shorting, early last year, in an attempt to convince me they are actually taking action. Two prosecutions over a period of one year. Personally, I would ashamed to admit to that. Clearly I have no faith in NASD, SEC and the Feds, for well substantiated reasons. This lot I call Market Makers, almost all are outright crooks and are in charge of those bodies designed to regulate them. Wolves in sheep clothes, tending a flock of sheep. Purl Gurl [/QB][/QUOTE]
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