August 1, 2007
As Chairman Cox said: We have a riught to be upset.
These are the folks you people at the SEC have been in bed with. Notice it was the NASD and the AMEX who took them down. Not so much as a whimper out of the SEC.
From: http://www.sec.gov/rules/proposed/s72303/sarenstein03262004.txt
"Sent: Friday, March 26, 2004 1:07 PM
Subject: File No. S7-23-03
To whom it may concern:
I am the managing member of SBA Trading, LLC and LTA Trading, LLC, both
market making firms on the American Stock Exchange. This letter is written
to express our opposition to the proposed short sale rule. We support the
current exemption of market makers not being forced to locate stocks before
shorting them.
This proposed rule would greatly inhibit broker dealers from making markets
in many securities.
It would artificially temporarily inflate stock prices and make the stock
market inefficient. Allowing flexibility for shorting stocks promotes
liquidity, efficiency, and an orderly market place.
Sincerely,
Scott Arenstein
Managing Member, SBA Trading, LLC and LTA Trading, LLC
241 Central Park West, 6E
NY, NY 10024
212-579-0731"