ALIB, Good Morning, On CNN last week they had the president of Merril Lynch on. He stated the Naked Short selling was completely legal because the way its worded states the shares have to be there when the short position is purchased......but there is nothing saying they have to be there when you sell it. So the shares are able to be passed on for another short sale immediatly after each purchase and this can go on indefnitly. He also stated they ML does this all the time and untill the wording of law clearly states otherwise its completely legal for the intent to be bent in this way. Anyway , that was my take. I was shocked that he made that kind of a statement. BUt it does explain how they do this and feel they are legal and no repercussions will occur because they are following the letter of the Law. Certainly not the intent of the Law but the letter. Its a license to openly rob and steal from the minnows. Jim Sinclair has a link on his website where you can forward a complaint about this ongoing assault to our companies.