June 2, 2009
Please take a look at the Short Selling of FNM, FRE, BAC, C, GS, the list is endless!!!!!!!!!!!!!!!!!!!!!!!!!!… along with all the other Bank Stocks….. This Volatility in the Market is the SEC’s Responsibility. Yet they do nothing to correct or reinstitute the “UP-TICK” rule that was outlawed in July 2007. WE all know what has happed since. THE SEC is the WORST AGENCY in the United States Government!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Everyone in the Government including the President is doing something to help the economy, yet the SEC does nothing to correct this problem of Hedge Funds surging the prices of Oil, Banks and then short selling everything to turn a quick dollar. Exactly like the 1930’s prior to the “Up Tick” rule integration into the Market that stopped the volatility.
WAKE UP! The rule was integrated for a reason in the 1930’s…
The SEC must be trading stocks with insider information alongside the SEC Lawyers… There is no Excuse for this continued non-action…. Unless you have a special interest with the Short sellers on Wall Street that started in 2007.
The Chairman of the SEC… should be fired immediately. She continues to do NOTHING in regards to the “Up Tick” Rule that she and everyone in the country knows and has known would help stabilize the current Market environment.
Many Thanks,
Dr. Bill Daniel
USAF, Retired