A Big Problem: Shortage of Fish Five years ago, due to the shortage of cod and other fish, 5,000 square miles off the banks of New England were closed off to fishermen. Among the water deemed off-limits, were some of the well-known waters of the Georges Bank. This water has been used by fishermen for four centuries and since closed has regenerated much fish growth. Of those fish, there seem to be an overabundance of scallops, the second most valuable seafood of New England. Because of this overabundance, fishing regulators are now looking into allowing fishermen back into the closed