April 30, 2009
THE SHORT SELLERS ARE TEARING THIS COUNTRY APART and you do NOTHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DO YOU EVER READ THESE E-MAILS?????????????????????????????????????
ANOTHER GREAT JOB BY THE SEC TODAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
SEC Chairman Mary Schapiro, should be fired immediately. She continues to do NOTHING in regards to the “Up Tick” Rule that she and everyone in the country knows and has known would help stabilize the current Market environment.
Mrs. Schapiro, continues the business as usual.
One of her board members remarked yesterday during the hearing that she does not see why we need to re-instate the UP TICK Rule… She has obviously never invested a penny herself in the market or knows what is going on in the real world otherwise she would have never made such a comment.
Anyone with any understanding of today’s market volatility would know that the UP Tick Rule instituted by our Grandfathers in the 30’s was done for a REASON!!! If you look at the Market Volatility since July 2007 since the UP TICK Rule was eliminated you will see swings of 400 to 200 points in one DAY….
This type of Market Behavior prior to July 2007 was none-existent because of the UP RULE!!!!!!
Mrs. Schapiro, because of her life Long association with the SEC is not the correct person for the JOB of Chairman. She has a relationship with the Thief’s on WALL STREET that have funded the policy to eliminate the UP TICK rule originally and make money betting against the Market.
Mrs. Schapiro, is part of the “Good Old Boy” syndrome that has got us into this predicament to begin with…
The SEC Was not DOING their JOB to begin with!!!!!!!!!!!!!! If they had been regulating some of this would have not been allowed to occur.
I would Highly Recommend to the President that he appoint another Chairman to the SEC!!!!!! Immediately.
Mrs. Schapiro, said yesterday after admitting in her statement there was a problem that she was going to wait 60 MORE DAYS to make sure she hears from everyone involved before anything will happen.
This MEANS that nothing will happen for another year plus…. SHE SHOULD Have immediately after taken office in February, instituted the UP TICK RULE and if anyone had a Problem with the 70 year old rule that worked well for years to discuss and come up with a PLAN…
However, her unprecedented Approach is to DO NOTHING NOW!!!!!!!!!!!!!!! Study the PROBLEM!!!! And then Maybe do something…. There is MONEY BEHIND HER Actions otherwise she would have willingly integrated the UP Tick Rule back into the system. Not doing ANYTHING THAT WILL HELP THE AMERICAN PEOPLE NOW is inexcusable !!!!!!!!!!!!!!!!! When she know this will WORK!!!!!!!!!!!!!
I recommend you Appoint Jim Cramer as the NEW SEC Chairman…. He Graduated from Harvard!!! We need someone from the Outside that knows WALL STREETS Tricks to Run the SEC and make things HAPPEN NOW!!!!!
We have waited since July 2007 for this to be fixed.... IT IS TIME!!!!!!
Many Thanks,
Bill Daniel
USAF, Retired