October 9, 2008
The most critical, urgent item for SEC should be the requirement to immediately and unconditionally enforce the delivery of naked shorted stocks. This naked shorting practice without an intention to deliver which is only criminal in the words of Chairman Cox himself is eroding the American investors' assets and confidence in the markets and is making SEC into a sympathizer for the hedge funds who are out to destroy great American companies.
Why SEC has not enforced their own rules and therefore possibly sympathized with the criminal naked shorts and allowed their cause to continue, is beyond imagination. This should be the first and foremost priority for SEC.
Us, American shareholders and company owners demand SEC to stop helping the crooks and get off its chair and work at enforcing and demanding naked shorts to deliver the stocks they sold within the allowed time period. Take a look at the naked short list and you should be ashamed. It is your most important job to keep the criminals off our markets.