July 17, 2008
Dear Sir or Madam,
We are truly hoping that the SEC will put an end to the ability of the hedge funds and investment banks to naked short shares across the entire market. As if enough destruction has not already been done. Not just the financial sector stocks. This has left the investment community with the feeling that the SEC has no teeth and will arbitrarily enforce further restrictions if any. The US has gone from what was once considered one of the premier open markets to what is considered a joke or manipulated market in many parts of the world including America.. This will not help America and our $ standing in our future. Our dollar being backed by the faith and trust in the corporation of America and its trusties. Our market and our policies. This is in question. Your actions could be one part of actions that will affect the future of the status of the US dollar as the World reserve currency in the not too distant future. Thus affecting America’s world standing. We call on you to do your best to clean up the entire market and put in firm restrictions with harsh penalties that are enforced.
We need clean transparent markets. The question is whether you have already let the naked shorts get too far out of had to rein them in. Heaven forbid if this is the case. In a declining market they will capitalize on the destruction of many of the sound American companies all with the use of illegal immoral naked shorts for short term gain.