August 13, 2008
Dear Sirs:
I would like to have naked short selling abolished and the uptick rule reinstated immediately. It is beyond my comprehension how a federal agency who's mandate is to protect shareholders is actually facilitating their economic destruction. Why do you prohibit naked short selling on 19 of the largest Financial institutions but let companys like LDK or ELN perish? If I had a say I would fire every high level SEC adminsistrator and replace them with honest knowledgeable people. I liken naked short selling to printing counterfeit shares of stock, what would happen if we did that with US dollars? In regards to the uptick rule your horrible experiment has cost investors billions, just look at the first two weeks of this year (the worst ever on record), all to the special interest hedge fund crooks. Your agency better address these problems immediately or you will all be following Mr. Cox and looking for another job. The individual investor has had it, we are not going to put up with this blatent incompetency/corruption any more