March 3, 2007
Eliminate the Grandfather Clause immediately. Rules have been on the books for over 7 decades to protect investors against the kind of abuse that Naked Short Selling inflicts on investors. The SEC is supposed to regulate and uphold these rules, and their lack of inforcement and obvious collusion with Market Makers and Wall Street heavy weights is not only a disgusting neglect of their duties, but criminal violations against the investing public.