Subject: Questions

May 5, 2009

I wrote about Up-Tick rule and SKF Ultra short on 1-20-2009 and received an acknowledgment from the S.E.C. I like what Warren Buffett said about the worldwide crisis we are having ("The problems are caused by greed on the parts of banks and insurer's plus total disregard of over site by the S.E.C. and Congress").
My questions are:
1. Why are we still allowing leveraged manipulations at the expense of mutual funds and individual investors like myself?
2. Why is anyone allowed to leverage any investments after we just saw 15 years of value destroyed by these methods.
3. Why are credit default swaps even legal anymore?
4. Why are Superfund ETF's even legal anymore?
I heard the head of Goldman Sak's on Bloomberg in April say he doesn't care if the uptick rule is re-instated because they are so creative they can still game the system.
The S.E.C. needs to give mutual funds and people like myself a level playing field. Maybe we should stop leveraged investments period. The destruction of retirement accounts has had enough raiding since 2007. Please do your job!
Regards,
Pat Hjorten