July 9, 2008
Mr. Christopher Cox, Chairman
Securities and Exchange Commission
100 F. Street, NE
Washington, DC 20549-1090
Cc: Senator Stephen E. Ogden
Congressman John R. Carter
Re: Comments on Proposed Amendments to Regulation SHO
File No S7-19-07
Dear Chairman Cox,
I DO NOT appreciate THE TIME I HAVE TO WASTE to provide comments on the Commissions proposed amendments to Regulation SHO WHICH SHOULD HAVE BEEN DONE YEARS AGO. FOR ME AND COUNTLESS OTHERS TO GIVE YOU SOMETHING TO READ AND PONDER IS AS WASTE OF OUR TAX PAYERS DOLLARS IN YOUR SALARY. CLOSE THE COMMENTS WINDOW EARLY AND DO YOUR JOB
I am a BONIFIED CERTIFICATE shareholder of CMKM DIAMONDS. I suspect that the SEC is delaying release of trust funds that are intended for distribution to the shareholders of CMKX. I respectfully request that you release these funds that have been wrongfully withheld from us for the past 16 months my Senators and Congressmen WILL be courtesy copied on this letter.
The fact that you are even extending the time to CONSIDER a Market Maker exemption is COMPLETELY LUDICROUS IT'S ILLEGAL TO COUNTERFEIT ANYTHING WHY BEAT AROUND THE BUSH LIKE THIS? MAKE IT A RULE NOW
LET IT BE KNOWN:
I support elimination of the Market Makers exemption
I support amendment to rule 203(b)(3)(iii) of Regulation SHO - completely eliminating the close out exemption for option market makers as proposed (not alternative 1 or 2)
I support amendment to rule 200(g)(1)which will require a "locate" on short sales securities and proper marking of sales as "long" or "short"
I also support amendment to rule 200(g)(1) proposed in the second round in release 34-56213 File No. S7-19-07 because equity investors are being harmed from mis-marked sales as "long" when they are NAKED short which counterfeits shares--AN ILLEGAL ACTIVITY
In the event of failure to amend rule 200 (g) (1), please make and release a cost analysis incurred by equity investors.
I have owned CMKX and other stocks on the threshold security list. I have served in the United States Navy for more than 20 years. I have just recently returned from Iraq ELIMINATING Al Qaeda Terrorists. I have done and continue to do my DUTY as sworn by my OATH to protect our nation from enemies both FOREIGN AND DOMESTIC. YOU NEED TO DO YOUR DUTY AND HUNT AND STOP DOMESTIC FINANCIAL TERRORISTS
What you are facilitating BY NOT MAKING THESE PROPOSALS FINAL is the proliferation of FINANCIAL TERRORISM Our markets have been RAPED by these market makers with ZERO ACCOUNTABILITY from the organization that is SUPPOSED to REGULATE the US Market System..... YOU ALL
The American Tax Payers are footing the bill NOW because you fell asleep at the wheel. The 9 major banks are taking Trillions of Dollars in supposed Write-Downs because of Market Makers like Knight Securities Derivatives (NAKED SHORT COUNTERFEIT SHARES IN THE MARKET) - Bought by CITIGroup and they Spread the Pain across the entire global market system. Perhaps THAT is the only solution to keep a global FINANCIAL MELT DOWN from occurring.
Just 2 SHORT years ago, NAKED SHORT SELLING DID NOT EXIST. According to your previous leadership. Annette Nazareth, I hope you enjoy your retirement with your head in the sand.
ILL REMIND YOU AGAIN ITS YOUR DUTY AS ITS WRITTEN IN YOUR OWN RULES:
1 The Commission must also me mindful of Section 6(b)(5) of the Securities Exchange Act of 1934 when evaluating any decision:
The rules of the exchange are designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest and are not designed to permit unfair discrimination between customers, issuers, brokers, or dealers, or to regulate by virtue of any authority conferred by this title matters not related to the purposes of this title or the administration of the exchange. (Emphasis added)
I implore you, ELIMINATE THE MARKET MAKERS EXCEPTION. ALLOW NO EXCEPTIONS TO FRAUD IN OUR MARKETS.
Robert B. Jones
Software Quality Assurance Manager
Senior Chief Petty Officer, United States Navy