August 13, 2008
I cannot believe that first you shelter the financials, whie we little guys get creamed by naked short sellers, now you lift the ban on the financials and admit you cannot enforce your own rules I have written my NY Senators to express my outrage with the SEC. I am now convinced that the system is rigged and I have lost confidence that the SEC is nothing else than an extension of the financial companies that got us into this trouble. Doesn't Reg-SHO already give you all the power you need to enforce this market wide? Is it because the problem is so big that it would be similar to the current derivatives crisis if the big financials had to balance it books? Is it because the financials make TOO MUCH MONEY doing this while you just look on and they need this income to survive? I am telling every investor I know about your malfeasance in this matter and encourage them to write their Senators and to you. Get your act together and reign in the the DTC I am disgusted and will be pulling my money out of the stock markets until you make the playing field flat for all. You shoud be ashamed.