September 9, 2009
Mary L Schapiro
100 F Street, NE
Washington, DC 20549
Dear Mary Schapiro:
The high frequency daily trading of Citigroup's (C) shares, show an abnormal behavior with respect to the remainder trading of the market even those shares of the same economic sector.
There are evident signals that demonstrate that naked short sellers have completely manipulated the share price, engendering to Hedge Funds and big investors colossal gains.
It is a case that deserves investigation of the SEC and thus to avoid that Citi's shareholders be seen frustrated when they observe their quotes fall down and often inversely to the tendency of the rest of the market. Any rules that would halt such trading practices should be reimposed.
From year to date, solely on August (traditionally the month of holidays) we have appreciated a behavior of this share in harmony with the rest of the market. That, changed again starting September first.