March 27, 2007
Chairman Cox has already stated publicly that Reg SHO did not work and the Grandfather Clause will be eliminated. So, why are you asking for more comments? I quote the Chairman below:
"CHAIRMAN COX: Abusive naked short selling is of great concern to the entire Commission, to all of our members and the professional staff at the SEC. The regulation that was first adopted to get after this and related problems, Reg SHO, has proven insufficient to stop the problem. One of the reasons is the Grandfather provision in the rule as it was originally adopted, so we are now setting out, as you know, to eliminate that grandfather provision. And we will do more."
Shouldn't the Chairman of the SEC's decision to eliminate the Grandfather Clause be enough for you?
Just protect the investor, as you are mandated to do.
An American Investor who demands to be protected from the crooks robbing us daily, as you "extend your comment period".