April 3, 2009
Dear Mary Shapiro and SEC board,
What do all American retirement account investors have in common when they invest through mutual funds etc? Also what do most savers not qualify for regarding trading and investing account?
Simple, a way to protect themselves against short sellers.
I venture to guess that almost 99% of all American retirement accounts are only set up to go long our financial markets. We were taught form youth to buy America and your savings will grow.
So under the current shorting to the down tick rule they are sheep to the slaughter against the shorter that benefit from the DOWN TICK RULE.
If you do not believe my claim have most average Americans go into their banks. Any bank will do and have them ask their banker to set up an account going short the S & P.
Hmm so it can’t be done. We have rules that do not protect the masses against a bear raid with rules that only benefit the powerful few. WOW now that SEC protection! For whom I am not sure.
Mary you seem like a wonderful person. I hope you see this for what it is.
Best wishes,
Lambs to the slaughter