July 12, 2008
The Commission has failed to simply enforce the existing regulations against NAKED SHORT SELLING, a practice harmful to investors and our economy.
This is theft plain and simple. The fact that we are actually commenting on this as it continues to happen is a sad commentary on the state of the Union, bearing in mind that it is Illegal We are actually discussing nuances of illegal activity so the regulators can continue to allow it to be perpetrated. Captured Regulator
I just want to know who is the Captor.
I support elimination of the Market Makers exemption.
I support complete elimination of the close out exemption for option market makers.
I support requiring an actual "locate" on short sales and proper marking of sales as "Short".
This mislabeling of 'long' or 'short' makes a mockery of Corporate Governance and Proxy Voting.
Why does the SEC -- which proclaims to protect investors--continue to FAIL to enforce the rules, regulations and laws currently on the books?
Thousands of small companies have been destroyed due to the fact that Regulators allowed it to happen. People (Investors) have been writing letters since 1999 (that is almost 10 years)on the issue of Phantom Shares, Fails to Deliver, Counterfeiting, call it what you may. It Is Theft
Many people have lost such confidence in the SEC that they have stopped writing to the SEC. Maybe this is why relatively few people have taken the time to comment on this train wreck. All honest investors want honesty and integrity in our US and Global Markets. I guess 'WE THE PEOPLE' just thought that was your JOB
I pray Chairman Cox will be different than ALL his predecessors and that he will STOP the hemorrhaging of the US Markets.