March 11, 2009

Subject: WHERE ARE THE CHANGES? ?

PLEASE ADDRESS THE FOLLOWING:

1-WHY HAS THE UPTICK RULE NOT BEEN REINSTATED ? THERE SHOULD BE NO PANDERING TO FDIC OR ANY OF THE CORRUPT BANKERS OR SPECULATORS OR BROKERS WHO WORKED IN TANDEM.

2-WHY HAS THERE BEEN NO RULE ABOUT TRANSPARENCY OF TAKE OVER BIDS ? MOST ARE STILL OPERATING ON PAPER COLLATERAL, NO EXCHANGE OF MONEY OR ASSETS.

3-WHY, WHEN SO MANY RESPECTABLE AUTHORITIES RECOMMEND GETTING RID OF MARK TO MARKET RULE, IS IT ALLOWED TO EXIST? THIS IS A CASINO GAME, IT SHOULD NOT BE ALLOWED. IF ASSETS ARE FORECLOSED THEY ARE NOT MAKING MONEY. MORTGAGES, WITHOUT QUESTION, SHOULD BE REWRITTEN.

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I FEEL THE ANSWER IS SIMPLY THAT CORRUPT BANKERS AND SEC PERSONNEL OF THE PAST STILL CAST A LONG SHADOW AND WANT THE TAXPAYERS TO BEAR THE BURDEN OF THESE YET TO BE WRITTEN DOWN ASSETS.

BUDOUBLELL. THEY CAUSED IT, THEY REAPED THE ARTIFICIAL PROFITS FROM IT, AND THEY SHOULD BEAR THE DECLINE AND FALL OF IT. WHO CARES ABOUT THE BANKS THAT NEED THE LIFE SUPPORT ?

MANY REGIONAL BANKS HAVE AND HAD MONEY; THEY WERE COERCED BY PAULSON TO SIGN AND WHO KNOWS WHAT THAT AGREEMENT WAS ABOUT. THEY NEED THE ASSURANCE OF THE FDIC, BUT NOT IF IT CANNOT OPERATE WITHOUT CRIMINAL INTENT.

THE SEC IS NOT BERNANKE,BUT STILL, THE SEC SHOULD IMPOSE IMMEDIATELY THE NEW RULES, AND NO LEVERAGING. ECONOMIES ARE GOING TO SHRINK ANYHOW, THIS WILL ONLY MEAN THE END OF THE CORRUPT PRACTICES OF THE PAST 30 YEARS.

JANET JACOBY