May 29, 2009
To the SEC:
I read an article on the web regarding the money in the "dark pools" that come from somewhere around the world hitting our stock market through various trading venues. That article said that brokerage houses, tne Fed and the SEC know nothing or little about these kinds of money.
Don't you think it is a security risk for this country? With the ability to pile on, to generate counterfeit shares, to leverage the selling power through derivatives, many anti-American investors can pool the money together and aim to destroy America's ability to raise capital, and hence to destroy the US economy.
These anti-American investors can form a hedge fund abroad and trade through many accounts at various international banks. They can focus their attacks on one or two major companies' stocks to destabilize the sector, and hence the stock market.
This is a kind of financial terrorism risk that this country has to recognize. But, the professionals at the SEC seem to be arguing about almost anything to give advantages to the hedge funds, trading desks, and market makers that can help to destroy the US stock market and the economy.
Please wake up. Bring back the uptick rule and ban naked short selling completely. The security of America may be at risk if you do not move quickly.