March 17, 2008
Today, I had to listen to CNBC report that some poor soul at Bear Stearns lost 17 years of saving for his kid's education. So sad. However.........
How many of our savings plans, 401k, investment portfolios, jobs, companies, dreams have been wiped out, because for some unknown reason, you won't do the right thing and enforce proper delivery of financial instruments, in this case, stocks?
Now, with the US economy in a tailspin superceded only by the demise of our financial markets, the negligance of the SEC is on view for all to see.
No more of this, "in six months maybe". Now. Settle the trades now. To leave the destiny of our economy and financial future in the hands of the nefarious manipulators who inhabit Broad and Wall is scandalous at best, criminal at worst.
It is obvious your organization is in a terrible turmoil. There are those, myself included, who think you need to be disbanded, and those responsible for the collapse of any type order prosecuted. That will happen in due time, and I don't think it can be stopped. However, there are some good people at the SEC. What say the rest of you get out of the way, and let those with the will do their jobs without threat of censure or worse?
Settle the trades, TODAY. Today