Mar. 14, 2025
To the SEC: Please do your job. For 20 years I have been watching all of the illegal short selling going on with all of the hedge funds and big banks and wonder when this is all going to stop. Hundreds of factual and proven-true articles have been written by honorable people, are on the internet for anyone to see. These articles clearly state that illegal short selling, failing to deliver and it's partner illegal and unscrupulous "cellar boxing" are being used to illegally force companies into bankruptcy purely for greed. HOW CAN YOU LET A STOCK WITH ONLY 100 MILLION SHARES OUTSTANDING BE SOLD SHORT ONE BILLION TIMES???? Shame on you and everyone that continues to allow this. This needs to stop now. Many reputable investors have said this activity is so pervasive on Wall Street that if stopped....it will cause a market crash of such magnitude, financial depression will follow. I DON'T CARE!!!! Allowing this to continue is un-American and a disgrace to our financial system. The SEC needs to do the following: Rule 203: Require all short sales, without exception, to be backed by a confirmed borrow of securities prior to execution. Rule 204: Impose escalating monetary fees or fines for FTDs, applicable to all market participants, with proceeds supporting enforcement. Rule 204: Eliminate all market maker exceptions to locate and close-out requirements, ensuring uniform settlement timelines. Don't let corruption stop you from protecting individual investors like myself. I know the hedge funds and big banks pay billions of dollars to politicians in "political contributins (bribes)" so everyone looks the other way and I am so sick and tired of very, very wealthy who are allowed to cheat the system. How are some hedge funds making $40,000,000 A MONTH???? They cheat! Do not let this continue. PLEASE DO YOUR JOB AND PROTECT INDIVIDUAL INVESTORS LIKE ME. Thank you, -- Steve Selak Selak Entertainment, Inc. 466 Foothill Bl. #184 La Canada, CA 91011 Office: (626) 584-8110 Mobile: (213) 709-4909 Fax: (626) 584-8122 selakentertainment.com “After two years in Washington, I often long for the realism and sincerity of Hollywood.” – Fred Thompson