May 19, 2011
You lax standards and failure to oversee much of anything for years has continuously brought us to the point of failure over and over again. You should be deeply ashamed of your lack of action. Having once been seen as a fairly well regulated market "we" have now chosen to consider only the next 90 days of any business as important pushing businesses to be deceptive in the reporting practices rather than focusing on long term survival and goals.
It's hard to even know what's a real price anymore. Prices fall at the drop of the hat and then recover just as quickly and leave no explanation of anything. 24 hours a day "business media channels" are nothing more than stock pushers...acting to push stock prices up or down and who really knows if money is changing hands behind the scenes for the supposed impromptu appearances of analysts that recommend various stocks.
I hold CNBC and the other all jointly responsible for the recent market crash as they are the ones that sit and continuously nibble away at investor confidence day after day after day leaving everyone with uncertainty and at the same time a very cleaver way for competitors to place a strategic comment to bring down their opponents on the hint of a rumor of failure only to gobble them up moments later for pennies on the dollar.
What happened to the days when business news was about performance and not sentiment or emotion but was based on facts about sales, inventory, product performance, contracts, etc.
Seems like re-regulation has been a complete an utter failure and a loss for so many people that where forced into the stock markets because their companies no longer felt a duty to their employees for a job well done. But those that needed the money the least are always well taken care of while those that need their last few pennies the most end up giving up everything to insure the continuity of big business which is deemed "to big to fail" while those that gave up almost everything will suffer in silence for the remainder of their lives so the likes of the bankers can go on taking advantage of consumers while the SEC looks the other way.
Your judgement day is coming. I hope for your sake your regulator is looking the other way.
Regards,
Todd Clay