July 15, 2008
I just wanted to mention how much the average American shareholder appreciates your issuing an emergency rule to stop naked-short-selling of shares in significant financial entities. However, this kind of concern would have been extremely helpful 4-5 years ago on stocks like CMKM Diamonds Inc. (CMKX), which was shorted into oblivion while the SEC apparently sat by and watched.
I am one of many shareholders who lost most of what I owned because the SEC and other regulatory agencies did nothing to stop the slaughter. But now it would seem that you're stepping up to the plate -- to help the major financial institutions.
Funny, when we asked for help, we got Anne Nazareth telling us that there is no such thing as naked-short selling -- it's only a bunch of shareholders who want their stock to go up.
Makes me wish I was a "significant financial entity" instead of just a poor, robbed investor who went unprotected.
Please keep up the good work