Mad Mail: Cramer Takes on Short Selling

Booyah: When you started your campaign about shorts and their manipulation of the market you said you thought it would go nowhere. Well, the headlines the other day said the Securities and Exchange Commission was going after a short-seller trader who was doing what you said with rumors and shorting and got caught. Although this guy was a small fish with a gain of only $25,000, you at least have brought this to the attention of the public, which in turn has caused the SEC to react. We won't despise small beginnings. Thanks for looking out for the citizens of Cramerica. --Carolyn

Cramer says: A key part of short selling is borrowing the stock you plan to short. It’s the law. But the feds don’t seem to be enforcing that rule. As a result, tons of abuses are taking place. Not only does the SEC need to bring back the uptick rule, Cramer said, but the government has to make sure traders are borrowing stock. “This stuff’s outrageous. Write the SEC.”

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