March 30, 2008
IMHO, It's a sad day in America when an oversight Agency has to ask the American public for it's opinion concerning it's own ability, or lack there-of, to enforce Laws that have been on the Books for more than 70 years.
If i were to counterfeit the US Dollar, would the Courts have to go through this procedure prior to my conviction?
If i were to rob an American citizen, would the courts require this prior to my court room appearance?
If i were to steal a Company's trade secrets in order to
benefit myself financially, would the Government require a "Comments Period" prior to my prison sentence?
All of the above is exactly what the SEC has been, and is doing, to protect, disregard, and assist the corrupt people committing these crimes against America's citizens.
We, as citizens of this Great Country, not only expect our Agency's to do their assigned duties, but demand that they either require that of their members, or relinquish their powers to those that will.
I'm not going to ask the SEC to do their job at this point, since they have shown over these many years, a complicit attitude towards these corrupt entities operating within our financial sector, I'm demanding that you Stand Down
Your Agency has a duty to relinqish it's power back to the US Congress. Let Congress start over, and attempt to assign responsible, honest people to regulate Wall Street.
Recent example of the SEC's total digregard for the American Investor vs Wall Street insiders...
I have owned and witnessed the finacial prostitutes within Wall Street attempt to destroy CMKX, a stock I've owned for several years, without any effort from the SEC to thwart thier attempts to rob this Company from the rightful shareholders, I did say Years the shareholders have witnessed this.
Within one week, the Headlines Read, "SEC Investigates Trading in Lehman Shares ",
U.S. regulators are investigating whether traders spread false rumors about Lehman Brothers Holdings Inc.'s financial soundness to profit from a drop in the company's share price, two people familiar with the probe said.
CMKX is only one of thousands of examples of Companys that have been, or nearly destroyed by these same corrupt tactics, yet the SEC favors it "friends".
Let the Congress assume this oversight of Wall Street, the SEC has shown little or no desire to do so.
IMHO