July 17, 2008
I would like to voice my concern to extend naked short selling to encompass all stocks and to close the loophole that allows naked short selling to occur for the major brokerage houses on Wall Street (ie. Goldman Sachs, Lehman Bros, JP Morgan etc.) This type of criminal activity must be brought to justice and level the playing field for all investors, not just the corporate elitists that run shot over the small investor. It is a discrace what our financial system has become over the years and as an American I hold my head low in seeing what our leaders have allowed our financial community to evolve into. These individuals that have been naked shorting over the years (and the paper trails will lead to them) should be arrested, the profits stripped from them and then should not be allowed to publically trade for XX number of years based on our court of law. Laws must be enacted immediately to discourage this type of behavior if we are to encourage any type of investment back into our financial system.
Thank you for your time in reading my comments.