Subject: File No. 4-627
From: Lawrence F. Glaser

June 14, 2011

The metaphor perhaps most applicable here is the proverbial "rearranging of the deck chairs on the Titanic" just before...

Take a breath here.

There is no market.
These are no exchanges.
None of these rules are real.

The only thing here is the proverb of the Money Changers, and history repeating itself therein.


No one is assured when a share is bought or sold, short or otherwise, that at least there actually is a limited number of transact-able equities in the one they are engaged in, such as a limited number of shares, a limit on how many can be shorted, each "share" or "short" having both a unique identifier and an absolute accounting and pairing. (eg, if you study this case alone, all trading is illusory and the exchanges themselves are the major source of the crookedness for wanton lack of oversight and maximal investor abuse) Counterfeiting of "shares" and "shorts" is done, and you do not seem to care.

When you seek to change the rules, are you not really trying to grandfather everything that happened previously, as legal? Literally grandfather the counterfeiting and orchestration of it? Why not pursue the crooked trading now and before? Are you saying there is complete legitimacy to the naked short selling, bear raiding and "setting up/bowling over" of investors?

Where does this end.

You cannot fool all of the people, all of the time.

Three things have to happen.

1) Every share, every transaction must be recorded and accounted for, back to the source of the trade and in a permanent, accountable data base.

2) The policing must be automatic, real time. Crooked trade, bust and the punishment should be instant, an ominous fee should ride any illegal trade, monies collected distributed to damaged investors in that equity. The perps must be permanently marked and put into a data base, no expungement without a hearing to expunge and a reasonable explanation given. Mark crooks for life. Or your system is lowered for lack of controls. Statutes of limitations for fraudulent acts must be repealed, and it must be retroactive. Any professional who perpetrates fraud, inclusive of lawyers surrounding these crooked traders, should be held to an absolute standard. They have been playing innocent people long enough.

3) There must be no way, none whatsoever, that a company's total number of outstanding shares can be manipulated, and no way for a transaction of any kind, without a real time reporting and recording, complete with as much detail as possible.

The SEC itself has drawn the interest of the FBI. Not wholesale, but certainly on an individual employee basis. Will the SEC and other "governmental agencies" be willing to have a rule where all trades from people charged with protecting investors become transparent and audited? You do not self govern, yet you write the rules to govern.

When will there be a bill prohibiting members of Congress and the Senate from illegal insider trading? Was this ever legal, or is this another magic herring? eg pass along a law to make the abuse of the past "seem legal"

Do members of Congress and the Senate, right now, as I write this, have the legal right to trade on illegally obtained inside information?

You are charged with the protection of investors. I see a mountain of quid pro quos protecting those who would have you believe they are "elite".

Why not make the system into what it was intended to be?



As it stands, this is not capitalism. It is fascism. A means and mechanism to take money (or assets) from the unknowing and transfer them to knowing hands, with impunity, arguing that it is legal to do so. That cannot be capitalism.

Cicero once said, "The more Laws, the Less Justice".

He must have been a Buddist at heart, reborn as W.C. Fields.

Read these comments, read blog sites, expand your thinking. The public is aware now. It does not matter, your rule changes... you must remake the system now and actually match it to the promises, the assurances of yesterday, make "the exchange" and capitalism what it was supposed to be.

Lets make it very simple. Under this system, people are lead to believe, they have the right to buy a percentage of a company and have a right thereafter, to the success of the company should the company see its real prospects improve. They have a right to sell that "investment" and if prospects improved great enough to overcome expenses and other detriments to the company activities, they may see a gain and then disengage.

That is what the capitalist system was supposed to be.

So tell the people, was this ever really true, taken in its pure form? And if it was not true, what was going on instead? eg each abuse which took away from the mission and scope, lowering capitalism to another state of existence.

Look to the courts. They say Congress said, individual investors should not seek to take legal actions to insulate themselves from losses in their trading. So, by this argument, unless a public company admits to its own fraud and states the effect on the stock price as a result of the fraud, no one (no individual) has the right to say there was fraud and to prove to a jury this fact, and the fact of the "effect" on the stock price. The Courts cut off investors from reaching a Jury. So one would presume then, Congress and the Courts tell us if and when there has been such a fraud, and then, what the damage is. And to this very day, no member of Congress, no Court, has made such a decision to provide restitution to investors without a legal action taken first. Protecting investors is not, and has never been, spontaneous. And the saddest part is to see the protective layer, turned against individuals by special interests.

So we are sheep for the shearing, on a tilted table. Is that it?


As I said in the beginning, there is no market, no exchange, these rules cannot be real and cannot ultimately be enforced. Yes, there is some token action here and there, but wholesale, its all danger-driven as it stands.

Look at the charts. And we hear of a cyber threat looming? Or would it just be reality, our enemies, exploiting the same hooks our elites have used to sheer the sheep. Scary thought. Financial terror from within and without our so called "system".

No one is accounting for the shares, the shorts, and thus when "exchanging" is allowed to be "unlimited" in a given security, its nothing more than "another man's game". The exchanges do not provide real surveillance and they falsely advertise that they do. No Court, no Judge, no committee or other government official will ever take a stand for investors, recovery of their lost investments when there has been crooked trading and cheating, misleading of investors. And the very members of government charged with our protection, trade against us on inside information and with impunity.

Is my summary correct?

So what are these "rule changes"?

American is learning, watching. America wants a capitalist system. Do we really have one and if not, when will it come?

Cicero was very wise and often quoted these many centuries later. His Rome fell. Never forget.


Lawrence Glaser