"The SEC has linked such so-called fails-to-deliver to naked short selling, a strategy that can be used to manipulate markets. A fail-to-deliver is a trade that doesn’t settle within three days." This type is behavior is clearly fraud and market manipulation. The SEC needs to enforce the delivery requirement to ensure that shorters really have underlying shares.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aB1jlqmFOTCA&refer=home
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