Wow, it seems like none of the top commenters here have put in at least minimal effort to read and understand this.
The author does not complain about short sellers per se or about the fact that more than 100% of a stock's float can be shorted. That is all nice and fine. Instead what the author does complain about is that fact that the (supposedly regulated) mechanisms for shorting a stock are fraught with loopholes and exceptions that make it possible for brokers and the DTC to create stocks "out of thin air" for the short sellers and never neutralize. This dilutes the company's stock in the process and thereby damages the company's shareholders.
It is an issue that, if true, should absolutely be brought to public and regulator's attention.
The author does not complain about short sellers per se or about the fact that more than 100% of a stock's float can be shorted. That is all nice and fine. Instead what the author does complain about is that fact that the (supposedly regulated) mechanisms for shorting a stock are fraught with loopholes and exceptions that make it possible for brokers and the DTC to create stocks "out of thin air" for the short sellers and never neutralize. This dilutes the company's stock in the process and thereby damages the company's shareholders.
It is an issue that, if true, should absolutely be brought to public and regulator's attention.