How did America get Screwed? Forgive me, this is long, complex, and all of it can be backed up by real events and real numbers. This is where it starts. The SEC rules state rather clearly, and have for some time, that transactions have 3 days to clear (SEC Rule 15c6-1). And that’s all it says. It does not specify what you cannot do, which in this case, is fail to deliver the stock in 3 days. It also does not specify that there would be PUNISHMENT for failing to do so. However, last week the SEC stopped short trades...
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How America got Screwed (LONG Vanity)
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