March 30, 2007
Thank you for again showing your true colors by extending the comment period for this proposal.
With so much lax enforcement and the ineffectiveness this Commission has demonstrated, I feel more than the grandfather clause is in order to be eliminated.
You have taken the stance of a "hands off" policy concerning regulation and enforcement of your own guidelines, in order for corporate big wigs with political clout to continue to rob , rape, and pillage the system.
Please explain to the average investor why the SEC is necessary, as you have done absolutely nothing to prove otherwise concerning our investments. You have done nothing to protect companies from predatory manipulation, as several companies have languished on the thresh hold securities list for hundreds of days. Also, you have determined and filed the opinion that investors have the right to file class action lawsuits if the judge is a psychic and can somehow determine the intent to defraud.
This "Commission" should be dismantled, as it has evolved into nothing more than a joke concerning true regulation and enforcement.
Individual investors and the companies you have failed to protect look forward to assisting you with compliance in the very near future.