March 27, 2007
The extension of this comment period is a pathetic commentary on the Commission's unwillingness to protect investors.
SEC Chairman Cox himself said, on the record:
"Reg SHO has proven insufficient to stop the problem. One of the reasons is the Grandfather provision in the rule as it was originally adopted, so we are now setting out, as you know, to eliminate that grandfather provision."
How is extending the comment period on a rule that is KNOWN to be insufficient helping the investing public?
The folks who made this decision should be ashamed of themselves. Ashamed. The investing public is depending on you to do the right thing, and you have failed miserably.