August 13, 2007
Stop the madness that the SEC is largely responsible for creating. Simply enforce existing rules re covering sales transactions in T+3. The dreadful and criminal Grandfather provision must be eliminated in full immediately. The SEC never had the authority to introduce that 'stay out of jail' card for its hegdefund/primebroker friends in the first place. The market maker exemption must be eliminated in its entirety immediately, it representing a 'back door' allowance to sell unregistered securities that aren't owned or even located a double crime, if you will.
The retreat by high level co-opted SEC officials is well underway Cox must go too. Patriotic, honest remaining staff must clean up the horribly blighted shop that is meant to protect the small investor and has done just the opposite.
Now get these measures into the Federal Register and up and running. Then watch the crooks run for the hills...or Costa Rica.
You owe it to America. Other countries are aware of the impudence of the mega-powerful that own control our banks, elected oversight officials and the cowardly Wall St press.