January 23, 2009

Subject: manipulation and short selling in the stock market

The traders who are guests on CNBC and Bloomberg TV channels frequently use the phrases like "the market wants - the market likes - the market doesn't like". Who is "the market" They are running and ruining the economy of this country. Short selling and all these trading schemes that manipulate and control the stock market should be totally banned, along with all the complicated financial instruments that have led to financial crisis. One trader today said he didn't care about the price of a stock, but the action on the stock. While hundreds (maybe thousands) make millions, ordinary regular working people by the millions are losing thousands, a big portion of life saving for some. President Obama said in a speech that the country can't prosper when only the wealthy prosper. Last year when many of the financial institutions began to run short of capital (BECAUSE OF SHORT SELLING AND MANIPULATION) and began to raise capital their stock fell even more, (BECAUSE OF SHORT SELLING AND MANIPULATION) .Some to the point of failure. When the banks received TARP money, The stocks kept falling. (BECAUSE OF SHORT SELLING AND MANIPULATION. Millions who did not cause the problems with the economy are being asked to pay for the bailouts while the people who caused the problems are still operating and draining capital. One of the commentators remarked that there $9,000,000,000 is on the sidelines, Who has this money and where did it come from? If traders don't like a stock they don't have to own it, but they shouldn't be able to manipulate the price down and profit from it. There can be no confidence in investing for retirement as long as bringing down the price of a stock is more profitable than growth. Fear trickles down to the working people and are afraid to purchase anything but necessities. Please consider this, Thanks Elbert Kropp