July 17, 2008
TO WHOM IT MAY CONCERN;
I appreciate the opportunity to comment on the SHO REGULATION. I was very disappointed yesterday listening to the news on restricting short sales on financial stocks only, puts and calls are a important part of the market and must be allowed. The real problem is the naked shorts that are illegal and ignored by the SEC. The real question in my mind is why the SEC is not doing the job it was design to do. The naked short sales are a fraud on the investing public and criminal in nature! Why is the SEC not enforcing this this illegal and criminal behavior? I understand that most of these settlement failures are claimed to be outside the NSCC SYSTEM, if this is the case then fix the system and stop allowing fraudulent and criminal behavior.
I'm a small investor and I am disgusted with the inability of the SEC to enforce this illegal and criminal behavior by these elitists who you have allowed to get away with this illegal behavior. Please enforce the rules you have in place and if you need more regulations to enforce this activity, then by all means develop and implement what is needed.
Sincerely,
Bill Drewien