> Regulators asleep at the wheel, while uninformed retail investors are going to be hosed when the bankruptcy finalizes.

Anyone buying a company stock after it has declared bankruptcy is de facto a speculator.

> If they allow this, the investors who lose their money should be able to sue the SEC for negligence.

On what ground? That their get rich quick scheme didn’t pan out?

I think this is down right genius on the part of Hertz.