May 16, 2007
Naked shorting and failures to deliver only destroy the investors confidence in the system and the sec, sipc, dtcc
and nasd, and especially the sia who LOVE their members to naked short stocks to the ground and make the worth nothing or close to it. This practice is illegal.
The government loves illegalities, so it seems, as long as the conversion factor is in the wealthiest's favor. This action is always to the detrement of the smaller retail investor and the handicapped, (unable to work @58yrs)
investors who make an income or lose money due to the manipulation and illegal practices continuing daily and yearly for the past 6 years it seems.
If the rules are to be broken, please give me a waiver to try and recoup my stolen money from theives and hedge funds (unregulated mafia) and place those stolen monies back into the hands of the victims.
We have naked shorting problems, and off shore never have naked shorting of U.S. equities problems, they just do it.
Like many firms here in the U.S./ ubs for the best example.
Please regulate the industry fully and compitently.
I have 100's of examples of fraud and theft, and sec regs violations for years, and have reported such
ie: AOL/PPRO/HOMS lost $200,000 and never received any return calls from correspondence sent to the SEC, but the U.S. attorney, in washington and los angeles did respond once.
end of story
REGULATION MUST BE ENFORCED
license revocation is the only FINE
no more $30,000,000 fines for theft of $300,000,000 of the publics money via insider/fraud against the system/citizens or investors.