Subject: File No. S7-08-09
From: Thomas I MacDonald, Retired CPA

June 1, 2009

Recently a market manipulator announced he is selling Moodys short because the ratings system needs to be killed, and we learned that two Ivy League colleges have handed over control of maybe 40% of their assets to market manipulator for elitists rich enough to meet high wealth minimum investment limits.

What the SEC is allowing here, is shadow government by and for the rich, Nazis bent on killing investments of anybody who isnt in on it, kept out of the loop because they dont have enough money. And the agency has the nerve to ask us to address this with some asinine uptick rule?

Short-sellers use play shares,. The rest of us have to buy certificate-backed shares registered on the registrars books. The uptick rule is a hapless stab at capping the number of play shares that can be issued, as if this makes the swindle okay. That the SEC does not even explain this to the public shows us how entrenched the agency is in enabling Wall Street Crime Families to commit felonies like this.

The public gets duped into making stock investments based on per share data calculated by analysts from the number of shares to be found in the registrars books, then short-sellers flood the market with play shares, rendering those per share statistics fraudulent at the short-sellers convenience, and the SEC pretends that this isnt criminal activity.

To informed professionals, there can be only one explanation. The same Wall Street criminal culture that gave us bogus home mortgage-backed bonds extends into Washington through the Securities and Exchange Commission.

There is a revolving door between this agency and the crime families. The SEC needs to be abolished, control of the securities industry placed in the hands of people with no connection to it whatsoever, and everyone involved in this unconscionable attempt to misinform the public into supporting the uptick rule should be indicted for securities fraud.