March 17, 2008
Comments on File No. S7-08-08
"Naked" Short Selling Anti-Fraud Rule
To Chairman Cox.
I cannot beleive that.....
after 10 years of blatent financial rape by "Walled Street", and the multitude of complaints by harmed investors, that you would give these crooks 60 seconds to clean up their acts. Let alone another 60 days.
You bet I support this rule
I support all the rules that are in place that were enacted to stop naked short selling.
But what I support more, is actual enforcement of the rules. Enforcement that has been sadly lacking, right from the very start.
You say your going to put teeth into the rules... let see you use them Level the playing field.
enact this rule asap Enforce the other current rules enact the rest of the rule changes you know full well, need to be brought to bear against those who are abusing the system to it's detriment, and downfall.
You think we don't know why JP Morgan is offering $2.00 a share for Bear Stearns .... WE DO It's because of all the toxic sludge Bear Stearns hides on it's off balance sheet accounts, and God knows how many offshore accounts. You think we don't know that JP Morgan grabbed Bear Stearns, because they know how large the naked short positions really are on Stearns books, on pink sheet stocks and others. ( Stearns clears many trades through Morgan).
You think we don't know that Stearns is a non Fed affiliated Broker, and is being bailed out ( by JP ) so that nobody gets to see the books.
WE know ....
Time to act in the best interest of the majority, not just for those that scurry about in the canyons of "Walled Street"