March 28, 2007
I certainly want to thank you for the opportunity to comment again and again in this never ending stream of commentary and no observable action.
The problem does not seem to entail rocket science (and we can handle that) as much as kleptocracy within the SEC itself. For years the SEC has characterized the problem of failing to receive what you bought from Wall Street as non-existent or very minor. OK. Fine. Just halt the trading on all Reg SHO list stocks and let's take a count of authorized shares vs. the entitlements that are trading. Then let's make sure that ALL of the 'entitlements' are settled. Now that shouldn't be so difficult for an organization that pats itself on the back as often as the SEC does.
As a group, you have written very ineffective rules, been unresponsive in correcting your mistakes, and done your best to stifle any actions of the states in order to drain the cesspool of your creation. And now you wish to allow more delays while the cancer continues to grow. Disturbing and disgusting.
Congress should have some independent investigations of your actions. I sure have a few questions I would like to ask under oath. That should be more fun than the stuttering of some of your finest during the Congrssional investigation of the Aguirre matter.