July 9, 2008
I have been involved in the stock market for almost 18 years. I work very hard for my money. I am college educated, have a respectable career and still struggle day to day with the cost of living... still falling in the upper-lower to lower-middle class raising a family. So I make my investments, in my opinion, wisely and carefully.
It amazes me how just a couple years ago the media and top governmental agency reps, whose job it was to protect shareholders - including the SEC - did not even want to admit there was such as thing as a "naked" short (i.e. counterfeit, phantom shares). But the word is out and it will not stop with the power of the Internet. More and more continue daily to learn what it is all about. And as a shareholder of CMKX I know very well, because our historic cert pull driven by Robert Mahue PROVED our NSS. Yet, it seems like everyone in power works overtime trying to cover up this disgrace instead of working just as hard to FIX it... and you do have the power to fix it. YOU CAN FIX THIS. You can save this market and keep our good name in the USA by doing the right thing. Please do not allow the misfits of our past who are at fault for this travesty to continue to ruin our future. It's time to take out the trash and start new. Let's take back the pride this country was founded on.
I request that the Commission (1) impose in Regulation SHO a requirement of a firm location of shares to be borrowed before a short sale can be executed, and (2) enable transparency by requiring timely disclosure of the volume of failures-to-deliver shares of companies on the Regulation SHO threshold list. Regulation SHO should NOT be protecting the thieves... it is supposed to protect the shareholders. The counterfeiting of shares needs to stop.
Fraud is fraud. Stealing is wrong - no matter WHO is doing it. I have been told the SEC is delaying release of trust funds that are intended for distribution to the shareholders of CMKX. I respectfully request that you release these funds that have been wrongfully withheld from us for the past 16 months. We are an active close knit group 40,000+ strong. If our funds are not distributed in a timely fashion a full campaign of letters to every branch of government will pour out from every walk of life. People are tired of the corruption, they are tired of being taken advantage of, they are tired of waiting for wrongs to be righted. Many have lost faith in the market - I have watched many of my investments plummet unfairly (illegally) into the ground under the SEC's "watch".