July 13, 2008
I support elimination of the Options Market Makers exemption (OMM).File No.:S7-19-07,Release No.34-58107 DATE July 7, 2008.
I support any rule that the SEC may put in place to do their job they have been sanctioned to do.
"The mission of the U.S. Securities and Exchange Commission is to protect investors,maintain fair,orderly,and efficient markets,and facilitate capital formation."
The SEC continues to bury their heads in the sand or up their butts and continues to allow the crooks to steal Americans money.Is the SEC complicit?
"An individual is complicit in a crime if they are aware of its occurrence, have the ability to report the crime, but fail to do so. As such the individual effectively allows the criminals to carry out a crime despite easily being able to stop them, either directly or by contacting the authorities thus making them a de-facto accessory to the crime rather than innocent bystanders."
My opinion is the SEC is COMPLICIT,the question is why?Is it because people within the SEC are taking bribes? Kickbacks?Payola? or maybe it's political?
Somethings seriously stinking wrong with the system and it needs to be cleaned up.Maybe we should replace all of the SEC employees.Start with the chairman and work your way down.
The good ol' Boys club needs to be stopped.
Yes I am somewhat jaded after about 8 years of "investing".I have learned a lot but mostly I have learned the markets are crooked and thiefs abound continuing to steal and get away with it.
Getting rid of the "uptick rule" is another HUGE problem.How could you not know that the shorts would be able to jump on stocks like a ravenous pack of wild animals?
Please fix these serious problems so that the markets are at least fair.When I first started trading I had no idea of the criminal activity,now I understand.Should I have to simply follow the crooks just to make a profit in the market?Is that what I am supposed to do?Do you have to become a crook to make money?
We all know there is risk in the market and risk when you buy a stock,but the risk should come from the pitfalls of a companies' business plan,or the overall market sentiment,or the competitors of a company you bought shares in."Risk" from Crooks,Charlatans and Grifters should not even be a part of an investors worries or fears.
Thankyou for your attention to these problems and I will continue to believe we live in the greatest Country in the world,but what is going on now is a travesty of justice and those complicit are traitors to this country.This needs to be dealt with swiftly and succinctly.