July 27, 2008
Sirs, your efforts to rein in and elemanate naked short selling is highly retarded and an abysmal failure.
Unless and until you give every shareholder in every public company traded on U.S. exchanges equal protection from naked short selling your efforts will be perceived as a sham of abeiting special criminal interests at the expense of the general investing public.
And let us remember the practice of naked shorting has existed for years while the SEC has given it tacit approval by not enforcing the rules against such practices.
Billion if not trillions of dollars have vanished from the investing public's IRA, 401k, equity accounts, and other assorted investments while this practice rages.
I urge the SEC to IMMEDIATELY HALT the practice of NAKED SHORT SELLING and to IMMEDIATELY IDENTIFY VIOLATORS of SEC regulations to face LAWFULL PROSECUTION.
NOT IMMEDIATELY ENFORCING SEC NAKED SHORT SELLING REGULATIONS to AFFORD EQUAL PROTECTION to all SHAREHOLDERS is simply UN-AMERICAN and SMELLS OF BANANA REPUBLIC POLICIES and will FOREVER TAINT THE PERCEPTION OF FAIRNESS AND CONFIDENCE IN THE U.S.EQUITY MARKETS.
I URGE you to end this heinous trading activity TODAY