January 26, 2009
SEC Protecting Investors, Markets During Credit Crisis During the current turmoil in the credit markets, the SEC has worked closely with other regulators in the U.S. and around the world to protect investors and the markets.
If this statement is true the new office will take action immediately.
I am a 38 year private investor with several million invested in public markets and I have never seen more mistakes made then the ones made by the previous administration and head of the SEC. I realize that you are new but we must take action on the uptick rule and mark to market rule now. I realize even with the uptick rule in place stocks would have come down, but I am certain that they would not have come in as fast and deeply as they did. The institutions trading in this market are in complete control and they have been given weapons that allow them to steal money/market value from small investors. The uptick rule is one of these weapons that must be taken away from them. It is absolutely absurd that an institution or several institutions can jam the market or a stock with what is an unlimited amount of short power in minuets.
As for mark to market. It seems that this accounting rule has almost destroyed most of our financial firms and the tax payers then had to bail them out. I have been concerned about this rule for sometime however at the same time I realize that we did not want our banks to have the ability to hide or improperly mark potentially bad loans but this rule has thorn gasoline on the fire. It must be put on pause.
I am so fired up about everything that has happened that I want to do anything I can to help. I would love to come help in the office your as a volunteer or intern or anything to help do my part for America. I have included a picture myself and my girls just so you can put a face to my email.