January 2, 2007Dear Sirs & Ms',
When the SEC released Regulation SHO in June of 2004, a special 'grandfather clause' was drafted in the the regulation allowing for all outstanding settlement failures to be immune from the mandatory closeout provisions of the new rule. This contradicts the bylaws passed down by Congress in the Exchange Act of 1934.
The Commission remains silent in confusion and purposeful avoidance, the manipulation on concerted stocks remain and remain at a detriment to our global economy. Small businesses are being destroyed while hedge fund profits sky rocket and Wall Street bonuses rose to over $23,000,000,000,000. Money, investors have been counterfeited and stolen from at your hands.
Why don't you quit talking about protecting the investor as your main objective and act on those very words? You work for us, you are accountable to us and now we are calling in our markers, Game Over. If we are disgruntled shareholders, it is due the fact that an agency we trusted, you, the SEC, who has underperformed and in need of watchdog ethics. The eyes of America and Canada are now upon you.
Every agency and representative accountable to the investor, is now on notice to the demand in the elimination of the Grandfather Clause of SHO by January 5th, during your closed meeting January 4th. We will not cease until this illegal clause is addressed and repealed and are prepared to take this as far as need be.
A reply as to your intentions and actions will be greatly appreciated. Thank You.
A deeply concerned American Citizen,