May 4, 2009
Dear SEC,
I have been investing since 1986. I was there for the Crash of '87...and all the other meltdownns thereafter. Please be pragmatic and look at the RATE OF DECLINE and the DEPTH OF DECLINE in various U.S. securities AFTER the uptick rule was repealed. Study chart action of X, POT, DRYS, RIMM, CLR, FCX...NOT TO MENTION FINANCIALS STOCKS. I saw firsthand on my computer screens the constant relentless driving down in prices...like the bear raids of 1929. Major portions of the financial markets were either completely ruined..LEH, BSC, AIG...or...severely damaged...costing individuals...mutual funds, and all investing entities near catastrophic losses. Under Cox the SEC did not do its' due diligence.
Last year was the first year I ever lost money in the markets. I can document this. I will also tell you...I am going to the IRS and asking for a tax loss carry-backward.
You can follow up on this is you desire.
I could give even more information on leveraged ETS's..if you desire. Please...for the sake of the markets...study leverage in 1929. Look at the leverage in the packaged mortgage products...look at the leverage in the banks and insurance companies. You must put some controls back in the markets..or it will happen again.
Please contact me if you desire. I would love to be of assistance in any way to rebuild the integrity of our financial system.
My number is 314 542-9334.
Sincerely,
Pat Walker