May 5, 2009
The need to obtain additional capital at this time in the Banking sector is so risky that individual investors cannot participate. This is due to the existance of the SKF (Pro Shares Ultra Short) which makes it impossible for the individual investor to put capital into the banking sector with the SKF in existance. This type of fund should be outlawed. It has done great damage to the Banking sector and in my opinion magnified the problem of Banks raising capital. I believe that this problem would be much less of an issue if the SKF did not exist.
I hope you make this type of fund illegal with criminal penalties for the prinicpals.
The operators of the SKF have distroyed many retirement accounts and made investing in the Banking sector a very high risk situation for the average investor.
Thank you for you consideration.