July 9, 2008
There are numerous small biotech Companies developing major breakthroughs in treating Cancer and other life threatening diseases. The primary way of raising funds for many of these Companies is through the sale of stock.
Because of the blatant share price manipulation facilitated by illegal naked shorting, these Companies are unable to raise the funds necessary to develop these treatments. There are numerous examples of postponed or cancelled drug trials due to this disgraceful practice.
This is literally a life and death issue. Is it more important for the SEC to protect the billions in bonuses to the Wall Street cartel than to protect Companies developing life saving therapies? Or Companies developing new technologies to reduce the dependence on imported oil?
What is wrong with you people? Do you not understand what the SEC was created for? Why is there a public comment period regarding this? Should we stop arresting bank robbers until we have a 30 day public comment period?