May 21, 2011
I applaud your proposed changes and hope they are made in to law
There are many examples of market makers and rating agencies working hand in hand, usually to the disadvantage of the "retail investor", but to great benefit of the market makers and ratings agencies.
I've attached a chart I constructed of IOC that maps out events related to the stock, broker-dealer actions, and rating agencies, which clearly show a pattern of industry conspiracy.
This chart is only one example of many. Too many. Please help get rid of the "crooks on Wall Street".
And, please get rid of these Dark Pools, which drive trades in the Billions, usually to the disadvantage of the retail investor. Consider this: if you saw a hedgefund selling 20 Million shares of a stock, would you buy in to the stock, or place an option trade? Of course not But, since this is all hidden from the retail investor, we continuously get ripped off. With so much money leveraged in 401K's and Roth IRA's over the last 15 years, the retail investor was a lame duck, just ready to be plucked. We need to be protected.