October 10, 2008
To Every Individual Employed by the SEC,
The time has come for the SEC to Represent the Citizens of this country, not the hedge fund community. We find ourselves Terrorized by our own government. There is absolutely no legitimate or honest reason to withhold pertinent information from the Investment community, which is every citizen who has “bought in” to the notion that we should save and invest for our future.
It appears that the only way to make a difference is to expose the fraud and corruption within our own government agencies. Very unfortunate, confidence is needed yet there is absolutely no reason to have any sort of confidence. If the SEC is on the up and up at all, let the public have access to the short sell information you have collected. We have the right to monitor theses slimy hedge funds, some of whom are funded with hostile monies from overseas.
Additionally, the magnitude of the loopholes left open by your agency is staggering. It is both comical and sad to witness the outright manipulation of ETF trades that correlate with the abusive short sells that are raping Americans. I can see no scenario for an honest market under current conditions. The American public needs to rise up and revolt. The SEC NEEDS to do the RIGHT thing and DEMAND that the letter of the law be followed.
The SEC allowed the lobbyist for these hedge funds to set the stage for this travesty. By only requiring a Monday report for short sells, you left a planet size loophole for the very scoundrels who are manipulating, stealing, and running this market into the ground. Then, you agreed to “keep it a secret” from the public.
We need full and public disclosure and zero tolerance. Let the public hold accountable these “institutions.” It only requires simple math and common sense to see the BILLIONS owed as a result of Naked Short Selling and Fail to Deliver. DEMAND that these mafia bosses pay their debts!
Please explain to the American public how you are reconciling Institutional & Insider ownership, number of outstanding shares short, and fail to deliver issue. The numbers don’t add up. Until the SEC Enforces the Rule of Law, we will remain vulnerable to these Terrorist Tactics.