February 12, 2009
Hello,
My name is Victor Libov. I am a proud US Citizen and I want to see my country prosperous and strong.
Mrs. Mary Schapiro, as a new Chairwoman of SEC, you have an opportunity to immediately help rescuing the US economy:
Allowing stimulus package to pass without having set new rules concerning shorts and hedge
funds is counter-productive. The following must be addressed right away:
1) Reinstall the Uptick Rule
2) Allow a Mark-to-market accounting for at least next 6 months
3) Prohibit any type of shorting, including the elimination of the double and triple short ETFs
4) Investigate people/media that are manipulating the markets and take actions to stop
manipulation.
5) Tax short term gains 60% to eliminate speculation in the markets.
This lack of regulation led to the destruction of the economy, companies, lay-offs of many workers and wiping out savings of many hard-working families and retirees.
New SEC has to take charge and stop the insanity of passing the stimulus package directly to shorts resulting in continuing destruction of wealth of the USA and the World, just to benefit a few scavengers and parasites. We must stop rewarding people for destruction of our wealth - this is Anti-American. This is also a national security issue at this point.
Sincerely,