May 15, 2009
How many millions of emails and complaints by investors have been ignored by the SEC? How many have complained about program traders, hedge fund activity that have made their attacks on the investor's equity positions?
American has been shorted, sold, program traded, credit default swapped to death.
EVERY stock in America(probably worldwide) that has a large enough float has been attacked by the same algorithms.
When I buy a share of stock, I risk capital...real money...yet others get to play the game without any investment. They go unregulated..they "borrow" my stock and others to bet against my ownership. The very institutions that "house" my stock ownership loan out my shares to my very detriment. The SEC doesn't care nor do they "police" the lending of such shares, nor penalize anyone who really doesn't even have to prove shares were borrowed.
On a more simple note: I am not allowed to borrow against my neighbors house and car. I am not allowed to purchase a credit default swapp betting on his demise. I am not allowed then to attack his character and plant ficticious lies in the newspapers and perhaps his employers to assure that my bet pays off.
I can't enter into a program to sell the Brooklyn Bridge over and over and over.
I now read that the Federal Govt is adding life insurers to the TARP plans. They own corporate bonds and guess what...enter credit default swapps and people betting on failures and defaults of the corporations behind the bonds.
There is no end to the damage that has been caused by people being allowed to sell things they don't own. Do we need to mention commodity futures and the manipulations that have gone on there by people who have no ability to take delivery of the commodities in which they speculate..usually to the detriment ultimately of the consumer.
What happened to program trading halts by the markets when markets tumble.
Can't you see how many companies have been ruined by program trading platforms, offshore companies and the investment houses that allow all the bad practices so they can benefit.
The great American dream used to be one of rags to riches, success stories....for the past decade the real profits have been made by shattering dreams and visionary companies because there is more money in it and it requires no capital investment.
These preditors are allowed to do anything they want: they can be slanderous, they hire paid bashers, they create and live on panic in markets, they can plant false rumors with media...all to create the volatility they need in the markets to fleece every invested dollar away from its rightful owner.
There are networks of these "criminals"..they are the new mob....they are some of the biggest names in the investment world....they are the ones in big jets, have yachts all over the world...they operate offshore with onshore partners...they have all the money that used to be in peoples retirement accounts...they have all the monies that needed to be replaced by TARP funds....they have taken away all good in American companies...they have taken away the jobs that are now being reported to have been lost...
What else is there for them to take..because they will...
IT ALL COMES DOWN TO...MOST OF OUR PROBLEMS ARE CAUSED BY ALLOWING THINGS TO BE SOLD BY THOSE WITHOUT AN INTEREST IN THE PROPERTY....IMAGINE A SALES ORGANIZATION WITHOUT ANY COST OF SALES.
WE ACTUALLY GIVE SHORT SELLERS MONEY...THEY DON'T HAVE TO HAVE AN INVESTMENT AT ALL AND IF THEY ARE SUCSESSFUL AT RUINING THE COMPANY...THEY NEVER HAVE TO PAY ANY OF IT BACK...WHAT A COUNTRY.
When hedge funds get investors money...and get to do nothing but short companies and get more money....is it any wonder that they can charge huge fees. If they really aren't buying actual investments..just shorting stocks...is it really an "investment"? Are they really different than Bernie Madoff???
Go ahead call me and the millions of others that see these problems and have had their investments ruined by the activities described above some sort of conspiracy theorist.
The SEC created the playing field for them to operate. They enforce only the rules related to the reporting companies and let the unregulated offshore criminals go without rules.
Buy the way...sometimes if they ruin a company good enough..they can assist in taking it private...huuumh...shareholder activists.....I could go on and on but won't.
Buy the way.....if any of you are interested in some land in arizona or a bridge in New York...or 1 million barrels of oil...just send me some money and I send you back a certificate of ownership...just made a new batch on my PC. Soon I will be printing some more because I am getting ready to sell my neighbors house and may sell an interest in his collector car.
As to REG SHO...how about just enforcing the rules you have had for years..
Bruce McDonald,,,,again and again....