The Amazing Source of "Phantom" Shares
Sorry, whiny naked short conspiracy theorists. Your allegations have never been documented. Though you get points for screaming loudly.
Here is a more likely source: naked-short-crybaby companies themselves. Oh, and brokers who (we must use the word allegedly) help them out.
This isn't the first time we've seen this. Yet the public utterances of the SEC's Mary Schapiro continue to promote the fiction that naked shorting is a major menace that's worth precious SEC bucks. It isn't.
Of course, she could be crazy like a fox, and only making the public statements to keep the loonies (relatively) quiet while the SEC does real work.