Everyone on the street knew this market maker was a complete front for the naked shorts, Goldman Sachs and the other big boys are worse. It’s like they rent their market-maker driving license for fat fees to the hedge funds, no worries how many investors get run over and killed by naked short sellers.
Need to fence the small caps and end market-maker exemptions. Need to make all trades transparent “by name” of the buyer or seller. Need to see the tickets every day, no exceptions. And of course need to hang anyone who fails to settle. DTCC is the enabler — dirty, dirty, dirty.