KeyID: 433
From: RICHARD C MAIN [mailto:rzmain@verizon.net] Sent: Monday, February 2, 2009 7:13 PM To: CHAIRMANOFFICE Subject: US equities market
What a relief to have a new Chairperson. It is essential that the market find a bottom, because if it does not, then we are headed for 1933 - and it took almost 20 years to build the solid post WW II market. I would suggest that "mark to market" needs to be re-visited (realizing that this is not really an SEC responsibility), the up-tick rule and other rules to stop naked short-selling be implemented and to look seriously at replacing penny-pricing with at least nickel pricing. In stead of just supporting failed banks and insurance companies, it is the market that needs support - and soon - or there will be no market. Many retail investors who have lost substantial funds will never go back into the market; it appears rigged to them. Many of the politicians speak poorly of "investors" and those who live on dividends and interest, and that's a lot of widows and retired people, not just fat cats. My family has lost millions, and the income from that capital, which we will never see again, and we are people who paid our taxes and helped build this market (my father was 50 years on Wall Street as a venture capital person) and now it appears that the politicians only care about banks and fast dealing Wall Streeters, who have brought this problem about. If confidence is not restored within the next three months I am advising my family to salvage what they can and move to Spain or Portugal where we have some hope of being able to live out our remaining years in some element of dignity. I can tell you, I am speaking for millions and millions of Americans who are fast losing faith in what is