July 18, 2008
It may have been possible that at the time Regulation SHO was first created it was not foreseen how it would reduce or eliminate risk for those who would wish to practice naked short-selling. In short, the SEC could say that it did not know that it would have that consequence.
But now you know.
It gets back to that old Beltway Mantra, "What did you know and when did you know it?" It brings back fond memories, but I digress.
Now you know what you know, we know that you know, and as to when it was known, that will be up to the Congressional and DOJ investigators to determine.
But now, nobody can say they don't know.
It is time to stop punishing the longs and rewarding the naked shorts. Put as much distance between yourselves and those cash-fat streakers as you can, while and if there is still time. Now is not the time to come up short.
Trivia Quiz. Who said the famous quote, "What am I, a Potted Plant?"
Thank you for your time.