Please explain why naked short sale reporting has been allowed so many "Fail To Deliver's" for over 20 years and no one from any government agency has done anything about it? If the economy fails because of this regulatory neglect who will pay for the clean up?

Simply put, Short Sellers have for decades made the argument that disclosing their position makes them a target for Short Squeeze. However, they in many cases target legitimate companies with the sole purpose of attempting to "shake out" longs to make a profit. This is not the intended use or purpose of allowing short positions, which as I understand it is as a way to address fraudulent statements, find a companies true fair value or transfer of monies when a company is struggling / failing.