March 2, 2009
Dear Chairman;
I cannot tell you how angry I am as I watch my retirement being driven into nothing day by day by relentless short selling with no uptick rule in place. Last year when short selling was stopped the market stabilized and had a rebound and when it went back into place it has been nothing but a free fall.
What is wrong with your organization. You are there to protect the investor and this organization has failed miserably from missing someone like Bernie Madoff to allowing the short sellers to destroy our retirements.. They destroy companies which drives down our 401Ks and then it takes our tax dollars to stabilize them again!
Is everyone there deaf, dumb and blind! Those of us close to retirement will never be able to recover. Don’u you realize how many lives are being destroyed when the market is in a free fall and short sellers are driving companies into non-existence
Everyone in this organization should be ashamed about how they have failed the public.
THE UPTICK RULE MUST BE PUT INTO PLACE AGAIN. THE UPTICK RULE WAS PUT INTO PLACE TO AVOID ANOTHER 1929 AND THE SEC HAS NOW ALLOWED IT TO HAPPEN AGAIN. THIS ORGANIZATION IS AN ABSOLUTE AND ABJECT FAILURE.
DO YOUR JOBS.
Teri Ross