Subject: File No. S7-08-09
From: Lawrence F Glaser

May 17, 2009

The bantering around of rules is merely a smoke screen for the obvious.

The SEC has, through complete inability to function, allowed a "great financial rape" of America and Americans.

2000-2001 was a test bed, culminating in 911, which I feel our enemies took advantage of, as if a pure mockery of our crooked system (eg, they knew). 2008-2009 was the magnum opus.

Public companies became ripe for connections to hedge funds and crooked investors who would act on inside information to manipulate stock prices. Generally, trading the opposite of what investors are told in the total mix of information made available to them.

The legal system cannot seem to grasp how gaping and obvious the wounding was and is.

Public company makes comments in it's press "If product X continues to perform as it just did, it will become the preferred product of choice for the treatment of Y disease". Or "Procduct X to be used to TREAT FRANK AIDS". How about "company X has received a BUYOUT OFFER" and the truth is, it never received a buyout offer of any type, oral or written, in over 30 years, and this too, hit all the wires?? At the time the company makes these Bloomberg, Reuters, Dow Wire comments, it has absolutely no prospect, no plan, no product, no buyout offer and no scientific result from which to base such statements. Stock price reaction? Second biggest gainer in NYSE history.

SEC was informed countless times. Directly to SEC Office of Inspector General was informed, including that its own Commissioners (or retired Commissioners) partake in "breakfast meetings" where they speak for honoraria (paid to speak), and the sponsors are the very manipulators of which I speak. The FBI was informed. NYSE Surveillance was informed.

These sponsors, provide funds to Presidential Candidates WOW And they are photographed side by side with them in the recent US Election. Shameless...

Nothing was done. Absolutely...nothing.

Office of Inspector General refused to act. OIG had the nerve to question the information, seeking more facts, figures, if you know an SEC employee is trading on inside information, do not expect the SEC OIG to do anything at all. They are less than a puppet on a string. No autonomy and no resemblence to what an OIG should be and do.

Now, today, we see new leadership and they have acted. They FIRED top management, cleaned house. However, too late to matter. And those fired will sue for damages, becuase they will argue they did nothing wrong in not prosecuting stock price manipulation scheme complaints and in failing to complete other investigations they had undertaken but elected to stall and mysteriously drop.

This notice is a sad, sad example of how even new management cannot say and cannot do what needs to be done. A multi-trillion dollar heist has occured and no one wants to admit it. Because the cost...the need to act and what has to be done, they simply cannot fathom doing. Investigate. Unwind the trades, return the stolen money. A plug was pulled out and the blood drained from so many, laundered away overseas, that this Nation may NEVER recover. Never. And that is the problem.

DTCC stopped pairing, which means to the lay person, these corporate insiders could have, and could continue to operate with close ties to Hedge funds overseas, where their own stock is sold short and the gains in part, or in whole, are laundered back to the corporate insiders. Form 4? A big fat joke on Congress and the American people. No Form 4 is filed, of course. The stock is only temporarily sold. It never really leaves the hands of the insider...

When private causes of action are brought, the insiders and the perpetrators simply lie, hide the documents and figure no Court will allow the case to move forward. They are right

This said, more and more, it looks like in time, every American will know, will learn of this plot and will ask Congress to do something about it.

Crime of this magnitude was never legal, never intended to be legal and all the shape shifting of rules, regulations and existing laws cannot cover it up.

There are no statutes of limitations for criminal acts, however, for civil complaints unfortunately, there are.

The SEC is in way, way over its head on this. Its very purpose, its need to exist is called into question. Like buying a product at the store and finding a sticker on the bottom, "manufactured in the republic of Mars..." the sticker and information is utterly meaningless.

The NYSE and all exchanges and their so called surveillance are equally suspect.

if one asks, "is this all possible, public companies rigging their own stocks to manipulate stock prices to benefit insiders who actually traded on it"? and the answer is a resounding "YES" then what change in any law, rule or regulation is germane to THIS PROBLEM???

Short uptick rules?

Come on people, the gig is up.

Americans see now, and with red rimmed eyes, they anticipate something bigger to be done, by Congress, not the puppet SEC or it's hedge fund controlled, inside trading employees. And as to its OIG, you may as well shut that down as an unnecessary expense in hard times, where real decision must be made to preserve this nation. They literally have become the enemy and the only remaining question is, wittingly or unwittingly?


Larry Glaser