September 22, 2008
Good People of the SEC
Today’s market activity is a direct result of the decision to “exempt” the Market Makers from the short sale rules. By giving such latitude to the very firms that you are protecting by restricting shorting altogether – you gave them a license to steal. And, they did just that today.
The run up in oil and the pounding down of “real” companies, came on the heals of your decision to allow the market makers/option crooks the ability to operate outside of the law. This is nothing short of reprehensible and a slap in the face to every intelligent citizen of this country. There needs to be complete transparency, period.
I watched GS manipulate down the retail stocks they make a market for, and not so coincidentally these are the stocks they are short. They then proceeded to run rampant all over the options in these stocks at the same time. This is legal?
This is the only bottom line that makes sense:
If a company can not make an HONEST dollar, said company ought not be in business. No exception. I do not believe there is an American (outside of these “institutions”) who would disagree with this very basic of premises.
With heavy heart for America,