May 5, 2009
My wife and I are retired and have been victimized by the
"short sellers" that gamed the markets, destroyed many of the financial firms and placed the entire banking system in a near total collapse.
The SEC stood by and allowed uninterrupted short selling
(since the up-tick rule was removed). Further short sellers were allowed to trade WITHOUT actually purchasing the stock they were attacking. They were gaming illegally the security markets WHILE THE SEC LOOKED THE OTHER WAY
Those responsible at the SEC should be in PRISON along with the greedy basards that exploited the SEC's simple lack of protecting the taxpayers that pay their salary
ETFs shorting the stocks at 2 to 3 times value compounded the situation.
Now my wife and I, in our 70's, saw our 401Ks value HALFED
such that we are basically depended on Social Security,
a $565 per month pension and a couple of hundred dollars from whats left of 40+ years of work and paying our taxes.
THIS IS AND OUTRAGE
I think it is TIME THE SEC STEP UP AND PUT AND END TO THE