July 15, 2008
July 15, 2008
Re: Comments on Proposed Amendments to Regulation SHO
File No S7-19-07
I am a CMKX shareholder and have been watching the NAKED SHORTING going on in the markets for years. NAKED SHORTING is nothing less than theft, fraud and money laundering by the market makers by raping and plundering the unsuspecting public of their investments in the markets. In addition it has been a very effective tool to evade taxes offshore by these thieves. NAKED SHORTING has happened to thousands of companies over the years and has robbed many thousands of investors of their hard earned investments. CMKX not only has a NAKED SHORT position but possibly the largest ILLEGAL NAKED SHORT position against a company in the history of the stock market.
The incredibly profitable manipulative practice of selling shares that are never owned until the company finally collapses has been going on for decades behind the scenes. By selling something they dont own they can create a tax free incomethus, they are rewarded royally for their theft all the while they are allowed to burglarize the nation.
We need enforcement of the rules and regulations that are already on the books but we need to use steel teeth in the enforcement against these lawbreakers.
Regulation SHO was supposedly created to halt this fraudulent practice but it has failed to do the job.
I support the SECs recent action to repeal of the grandfather clause in Regulation SHO.
I also support the current proposed elimination of the market makers exemption to manipulate the market. I support the enforcement of purchasing all shares within the three day rule from the date of sale and not continuing to allow counterfeit shares to remain on the books for days, weeks, months and years past the sale date of the share. Uncompleted transactions are illegal and should not be allowed. It is time for enforcement to be strengthened and applied with an iron fist.
Implementation AND enforcement needs to be done as quickly as possible. The survival of our nation, the markets and our economy depends on it.
I really dont understand why the SEC needs the public to write letters to encourage them to enforce the rules that are already on the books yet at the same time I appreciate having the opportunity to voice my opinion.