May 7, 2009
Gentlemen and Gentle Ladies: It is clear to me that none of you have had to worry about educating your children or saving for a retirement later in life. That's the problem with giving an individual a government job. They stop thinking...
The naked shorting and removal of the long standing up-tick rule has made it simple for those who run our hedge funds go extract the wealth American families built to educate the children in our country. The markets use to be where people went to build wealth and fund our country's growth. It's now a place to extract wealth from our families and the US government has given the hedge funds the gun to rob us....It's that simple. No one, no one could shake us down the way they did without the help of you at the SEC. Consider the fact that when Bear Sterns went down, more shares were shorted than existed in the float..they were not put out of business..they were murdered...and we as a democracy will perish if this is not brought to bear. ...MURDERED BY RECKLESS LEGISLATION
Remember this if you remember or know nothing else. Those hedge fund managers who are looking to keep the status quo are paying less taxes than you. Do you understand that...they have so bribed our congressional and senate clowns that they make millions and pay only the capitol gains rate...it's unbelievable...which is why I suspect your organization is powerless to them...
If these wall street traders can bribe your organization to allow them to pay less than the man who picks up our garbage, why would anyone expect you to be able to reform the laws which would not be advantageous to them...
I marvel at the thought that the borrowing of shares and the elimination of the rule was changed in the first place..and that you are considering a change after those whores robbed the investing public makes me wonder how you and your employees can collect a paycheck without feeling ashamed of yourselves...
Please continue to allow them to screw us and our children out of retirement and education and short more shares than there are in the float of most companies...this way we can be assured of an ample supply of "brainless" young men and women who can be recruited to work at the SEC ...
You should be ashamed of your selves for even asking whether or not we should change the rules...the old up-tick rule worked since the depression...but then...the access to public officials and the ability to influence and bribe wasn't as easy as it was today. They also had officials with sense of responsibility and respect for hard working Americans...I know...I'm old enough to remember.....