> Naked short selling rules went into effect Thursday, Sept. 18, 2008 three days after the Sept. 15, 2008 Great Recession cliff
How you twisted that into your hate on Musk seems biased.
Clearly the facts are short selling and naked short selling exacerbated the Great Recession. Your Musk hate is outshining the facts.
The Great Recession wasn't an typical market correction but engineered, many banks and funds paid fines for their part on the fraudulent ramp up pump [1][2].
And naked short selling rules were reigned in 3 days after the Great Recession cliff [3].
Though little has been done to reign in securities fraud using short and distort besides this SEC warning shot on a smaller fish this year [4]. Short and distort is illegal and needs to be a major regulatory push to avert another crisis, especially since the market is more automated and HFT run now.
The SEC short and distort warning shot this year happened almost a decade later almost to the day of the Great Recession cliff (Sept. 15, 2008 - Sept. 12, 2018) putting the big fish on notice [4].
> “While short-sellers are free to express their opinions about particular companies, they may not bolster those opinions with false statements, which is what we allege Lemelson did here,” said David Becker, an Assistant Director in the SEC’s Division of Enforcement. [4]
People will not be ok with 'too big to fail' this time around, and if another Great Recession happens, it may permanently harm public markets for good.
