May 8, 2009
FIRST THING TO NOTE IS THAT IF YOUR SHORT STAFFED THEN YOU MUST FIX THAT PROBLEM AS NO AMOUNT OF REGULATORY REFORM WILL BE EFFECTIVE OTHERWISE.
THE AMERICAN PEOPLE RECEIVED A PRETTY GOOD HAIRCUT LAST FALL WHILE THE SEC DID NOTHING. IF YOU WANT THAT BRAND OF SPECULATION CONTINUED THEN DO NOTHING ABOUT REINSTATING THE UPTICK RULE OR PROSECUTING THE NAKED SHORT SELLERS.
THE BIG BANKS HAVE PROPRIETARY TRADING OPERATIONS THAT ARE MAJOR PROFIT CENTERS FOR THEM. MORE VISIBILITY IS NEEDED TO HOW ALL THAT MONEY IS BEING MADE. ARE THEY AND THE HEDGE FUNDS THEY ARE FINANCING MANIPULATING THE MARKET TO THE DETRIMENT OF THE SMALL INVESTOR?
MAJOR SURGERY IS REQUIRED NOW TO GET BACK TO A LEVEL PLAYING FIELD AND ONE THAT IS FAIR TO ALL INVESTORS.
JOHN J. MAHONEY CPA
MUSKEGON, MI
MAY 8, 2009