March 29, 2007
Gentlemen and ladies of the SEC,
As a Belgian investor I stumbled upon the phenomena of naked short selling in the markets many many years ago. At that time people who discussed naked short selling where laughed at as being fools. 6 years later it turns out there is a tidal wave about to hit the news... Naked short selling exist... It is a serious problem and the SEC has been neglecting naked short selling for so long that the problem has become a tidal wave about to hit the markets.
How many letters does it take for the SEC to understand what is going on with the markets?
How many comment periods do we need before some serious action is being taken by the people who have comitted themselves to protect the investors on the markets.
For a number of years now, a group of dedicated people have been trying to make it clear that the current markets are corrupt and startup companies are being destroyed by a bunch of whiteboard collar crooks. In Belgium, if I sell something, take the money of the client but do not deliver... I go to jail... Period. Obviously in the US other rules apply. There you simply grandfather the crime... No harm done, it's just a bunch of investors that lost their savings.
I have read some of the letters that are posted right now on the website of the comments to "Amendments to Regulation SHO".
I ask the question again :
- How many letters does it take for the SEC to understand what is going on with the markets?
- How many comment periods do we need before some serious action is being taken by the people who have comitted themselves to protect the investors on the markets.
Understand this... There are a bunch of people out there that clearly know what is going on, and they figured it out. They are a stubborn bunch, they do great DD and they communicate worldwide via chat rooms to spread the word.
THEY WILL NOT GO AWAY BEFORE JUSTICE IS BEING DONE.
I am sure the commision will act correctly this time, since there is no running away from the thruth.
Regards from Belgium
Marc Van den Broeck