Subject: File No. S7-23-09
From: Bob O

November 8, 2009

In reference to:
SEC Issues Proposals to Shed Greater Light on Dark Pools

I very much disagree with the SEC regulation of Dark pools. Dark pools provide liquidity to large institutional trades like the mutual funds that hold my small retirement savings. I am employed in a dusty old warehouse. I do not make much money. So I want the mutual fund managers to have the best pricing they can so I can make the most money on my humble investments. Dark pools provide that. Your proposals will make it impossible to have a functioning dark pool. Your proposals for regulation will hurt my very modest investments. Your regulations will widen bid/ask spreads and enlarge market volatility.

These regulations come from the human need to control other people but do not control me. Or it is somehow evil for someone else to have a profit or more of a profit because that is greed but I can have a profit, even a large profit, and that is moral and ethical. We then conclude we need to stop this immoral greed. Then we use these type of regulations to stick it to the evil greedy people (the big boys - rich) we do not like. What happens is we hurt ourselves more than the people we are targeting. This regulation intended to stick it to the greedy ends up cutting our own throat. This is exactly the reason the Lord gave the tenth commandment Thou shalt not covet - Exodus 20:17. Regulation like this is coveting. Coveting always comes back and cuts the throat of the coveter. The Lord gave us the tenth commandment to protect us. The Lord will stick it to the greedy. I trust the Lord, not government regulation.

This is an economic security issue for the United States. If you regulate an efficient trading method out of its usefulness it will go offshore If our markets go offshore to places that manipulate the market that will hurt much more than any perceived damage dark pools cause. Also, the USA will not be competitive in finance. The alternative would be China, Russia, Middle East countries dominating the large block trade business. So, you really think when China, Russia, Middle East countries gain a dominant roll in large block trade business, they would not manipulate the market? If you believe that you would be a follower and believer in fantasy lives of Walter Duranty or Idaho Sen. William Borah.

If a large block trade is reported hours after it is done, what is the big deal? Every one knows about it later Why immediately?

Have you found one person who proved they were hurt by dark pools? I think not. Do not fix something that is not broken. The problems you are addressing are theory. Do not make regulations on problems that have no proof of damage to anyone. There is such a thing as self-regulation. If there is no actual proof of damage, self-regulation is obviously working.

Please do not do this. Please cancel this proposal. Please do not regulate dark pools.