can some company "borrow" tens of millions of shares, equating to about a half billion dollars worth of stock and sell it hand over fist with no regard to any uptick rules or any rules whatsover in fact, pounding down the price even in pre-market, selling wildly causing stop loss orders to trigger (i.e., causing shares to be sold to them at depressed prices), and largely destroying the stock while it is held by lots of people, either directly or through an index etf, while they are at work doing real jobs? of course it's possible. the SEC does a perfectly good job making it possible: its called short selling.
and, as we all know, the SEC removed the last impediment when it removed the uptick rule right before the crash in 08, bizzare timing to say the least, while the market cratered on the heads of people at work doing real jobs. and who are the recipients of the bounty of short selling? well, we don't know the answer to that because the SEC has a little exception for reporting for short sellers, and these powerful people are doing their most to keep it that way, while they get rid of the nonsensical exception in europe as i type this. short sellers (and we are talking big hedge funds and large prop bank trading, i.e., the guys who run our federal government finance agencies) don't have to report their short holdings. isn't that convenient. of course in order to invest in a hedge fund and be able to benefit from this practice, you need to be rich, yes, BY LAW, you need to have a certain amount of assets ($250k? or is that an old number) in order to invest in a hedge fund. the SEC needs people to act the fool of course -- it can't have everybody shorting now, can it?