Author: dawh@webtv.com at Internet
Date: 07/05/2000 7:35 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 19:35:19 2000,
The following information was submitted:
Host: 209.240.200.83
submit_by = dawh@webtv.com
Name = David w. allen
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
They totally manipulate the stock and actually become investor day
traders,driving stocks up or down at will, to line their own pockets. It is
criminal what they are doing. Their should be a free market so that stocks can
rise on their own merit. They are given by the SEC a license to steal and it is
overviewed and sanctioned by the participatimg broker houses.They follow the
same pattern on many,many stocks that I watch . They manipulate and control the
rise and fall of the stocks thru the spread between the BID and ASK price.
Anyone can see.... it is so obvious. Don`t understand why the SEC does not take
action against these Robbers. The are stealing money from shareholders.
Author: rob@nucleus.com at Internet
Date: 07/05/2000 10:04 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 22:04:45 2000,
The following information was submitted:
Host: 207.34.94.238
submit_by = rob@nucleus.com
Name = Robert Anderson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: chandra.anderson@hughessupply.com at Internet
Date: 07/05/2000 8:50 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 20:50:20 2000,
The following information was submitted:
Host: 64.217.250.179
submit_by = chandra.anderson@hughessupply.com
Name = Chandra Anderson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: leschan@swbell.com at Internet
Date: 07/05/2000 8:44 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 20:44:14 2000,
The following information was submitted:
Host: 64.217.250.179
submit_by = leschan@swbell.com
Name = Lester Anderson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: cgballas@ptd.net at Internet
Date: 07/05/2000 10:33 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 22:33:21 2000,
The following information was submitted:
Host: 204.186.209.54
submit_by = cgballas@ptd.net
Name = chris ballas
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: bbeard60@hotmail.com at Internet
Date: 07/05/2000 5:53 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 17:53:49 2000,
The following information was submitted:
Host: 209.246.181.95
submit_by = bbeard60@hotmail.com
Name = William F. Beard
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: katybeebe@hotmail.com at Internet
Date: 07/05/2000 9:02 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:02:17 2000,
The following information was submitted:
Host: 216.161.191.196
submit_by = katybeebe@hotmail.com
Name = Mary K. Beebe
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: mblbm@aol.com at Internet
Date: 07/05/2000 10:01 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 22:01:36 2000,
The following information was submitted:
Host: 205.188.197.186
submit_by = mblbm@aol.com
Name = bonnie bercu
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: c1026@pioneeris.net at Internet
Date: 07/05/2000 9:30 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:30:33 2000,
The following information was submitted:
Host: 208.3.198.82
submit_by = c1026@pioneeris.net
Name = reg Colquhoun
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: cayman99@yahoo.com at Internet
Date: 07/05/2000 6:37 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 18:37:44 2000,
The following information was submitted:
Host: 24.147.182.142
submit_by = cayman99@yahoo.com
Name = James Cullinane
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: macurtis@netdoor.com at Internet
Date: 07/05/2000 11:35 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 11:35:49 2000,
The following information was submitted:
Host: 208.137.152.33
submit_by = macurtis@netdoor.com
Name = michael w. curtis
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: tunk@redconnect.net at Internet
Date: 07/05/2000 1:13 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 13:13:18 2000,
The following information was submitted:
Host: 216.203.5.117
submit_by = tunk@redconnect.net
Name = bob Gibbons
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: rhallenbac@aol.com at Internet
Date: 07/05/2000 2:39 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 14:39:56 2000,
The following information was submitted:
Host: 205.188.199.178
submit_by = rhallenbac@aol.com
Name = Richard Hallenback
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: houssam@home.com at Internet
Date: 07/05/2000 11:01 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 23:01:50 2000,
The following information was submitted:
Host: 24.112.232.88
submit_by = houssam@home.com
Name = Houssam hennaoui
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: hennaoui9@home.com at Internet
Date: 07/05/2000 8:15 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 20:15:01 2000,
The following information was submitted:
Host: 24.42.228.169
submit_by = hennaoui9@home.com
Name = ayham hennaoui
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: hess1963@aol.com at Internet
Date: 07/05/2000 9:41 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:41:20 2000,
The following information was submitted:
Host: 152.163.201.203
submit_by = hess1963@aol.com
Name = Eric A. Hess
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: jeh@canby.com at Internet
Date: 07/05/2000 7:37 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 19:37:40 2000,
The following information was submitted:
Host: 204.119.20.38
submit_by = jeh@canby.com
Name = John Hieb
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities ociation must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that ociation rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: rives770@bellsouth.net at Internet
Date: 07/05/2000 6:32 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 18:32:52 2000,
The following information was submitted:
Host: 209.215.49.85
submit_by = rives770@bellsouth.net
Name = Russ Ives
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: paige@blueskynet.as at Internet
Date: 07/05/2000 4:18 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 16:18:10 2000,
The following information was submitted:
Host: 198.77.67.5
submit_by = paige@blueskynet.as
Name = C. Paige Johnson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: pkolasa@hotmail.com at Internet
Date: 07/05/2000 11:50 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 11:50:27 2000,
The following information was submitted:
Host: 24.115.45.225
submit_by = pkolasa@hotmail.com
Name = Pawel Kolasa
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: jlombardozzi@mediaone.net at Internet
Date: 07/05/2000 8:49 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 20:49:20 2000,
The following information was submitted:
Host: 24.218.221.26
submit_by = jlombardozzi@mediaone.net
Name = Jack Lombardozzi
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: kma@home.com at Internet
Date: 07/05/2000 12:30 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 12:30:18 2000,
The following information was submitted:
Host: 24.0.172.254
submit_by = kma@home.com
Name = MarcSLott
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Marc Slott
Author: clunday@hotmail.com at Internet
Date: 07/05/2000 2:05 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 14:05:41 2000,
The following information was submitted:
Host: 143.209.238.78
submit_by = clunday@hotmail.com
Name = Chris Lunday
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: CGMac@aol.com at Internet
Date: 07/05/2000 8:43 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 20:43:43 2000,
The following information was submitted:
Host: 24.4.254.17
submit_by = CGMac@aol.com
Name = Chris MacDonald
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: waitangi@gmx.de at Internet
Date: 07/05/2000 4:52 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 16:52:36 2000,
The following information was submitted:
Host: 62.104.214.74
submit_by = waitangi@gmx.de
Name = Tom Mauri
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: p_a_mckenzie@yahoo.com at Internet
Date: 07/05/2000 5:42 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 17:42:40 2000,
The following information was submitted:
Host: 166.62.169.79
submit_by = p_a_mckenzie@yahoo.com
Name = phil mckenzie
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: onaroll2@juno.com at Internet
Date: 07/05/2000 5:55 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 17:55:09 2000,
The following information was submitted:
Host: 209.156.1.73
submit_by = onaroll2@juno.com
Name = Kay Mitchell
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: bobmonski@msn.com at Internet
Date: 07/05/2000 10:30 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 22:30:44 2000,
The following information was submitted:
Host: 63.10.118.47
submit_by = bobmonski@msn.com
Name = Bob Monski
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter regarding proposed Concept Release (No.
34-42037; File No. S7-24-99). I want ALL investors to be able to short ALL
stocks, especially otcbb stocks. Make it FAIR ! I want EQUAL FOOTING with market
makers.
Regulation needs to occur on the company end. Stop the flagent discounting of
securities without notice.
Also the OTCBB needs to be FAIR in that the limit order protection rule should
apply. Oftentimes market makers back away from their posted quote and take 15-30
minutes to fill orders.
Author: LOllerman@aol.com at Internet
Date: 07/05/2000 1:46 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 13:46:41 2000,
The following information was submitted:
Host: 152.163.207.189
submit_by = LOllerman@aol.com
Name = Leah Jo Ollerman
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: patrawhb@aol.com at Internet
Date: 07/05/2000 8:02 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 20:02:21 2000,
The following information was submitted:
Host: 205.188.196.49
submit_by = patrawhb@aol.com
Name = Richard M. Patraw
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: jpenaflor_69@yahoo.com at Internet
Date: 07/05/2000 7:33 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 19:33:02 2000,
The following information was submitted:
Host: 207.245.4.148
submit_by = jpenaflor_69@yahoo.com
Name = Jun Penaflor
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: petycash@bellsouth.net at Internet
Date: 07/05/2000 3:17 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 15:17:40 2000,
The following information was submitted:
Host: 152.163.206.193
submit_by = petycash@bellsouth.net
Name = Adam Petty
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: valpri@aol.com at Internet
Date: 07/05/2000 7:41 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 19:41:15 2000,
The following information was submitted:
Host: 205.188.197.152
submit_by = valpri@aol.com
Name = R.C.Pickett
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: broth@lanstar.net at Internet
Date: 07/05/2000 9:37 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:37:59 2000,
The following information was submitted:
Host: 209.252.223.21
submit_by = broth@lanstar.net
Name = William L. Roth
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: Brians612@mediaone.net at Internet
Date: 07/05/2000 9:16 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:16:24 2000,
The following information was submitted:
Host: 24.24.152.24
submit_by = Brians612@mediaone.net
Name = Brian G. Salemme
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: StocTrdr@aol.com at Internet
Date: 07/05/2000 1:46 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 13:46:08 2000,
The following information was submitted:
Host: 152.163.207.189
submit_by = StocTrdr@aol.com
Name = David Joseph Schulte
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: jrsharp@telusplanet.net at Internet
Date: 07/05/2000 9:33 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:33:27 2000,
The following information was submitted:
Host: 161.184.18.164
submit_by = jrsharp@telusplanet.net
Name = Roger Sharp
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: sjia@yahoo.com at Internet
Date: 07/05/2000 7:46 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 19:46:27 2000,
The following information was submitted:
Host: 63.36.205.240
submit_by = sjia@yahoo.com
Name = giani smith
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: kaystill@gv.net at Internet
Date: 07/05/2000 7:21 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 19:21:25 2000,
The following information was submitted:
Host: 207.159.62.80
submit_by = kaystill@gv.net
Name = Kay Stillwaugh
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept
Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a
small company is access to capital for creation and growth. It is also known
that
investors who place funds in such companies expect and deserve protection from
fraud and manipulation. Small business is a critical building block for jobs and
wealth in our economy. MMs have steadily been selling more shares than they have
bought, defying the laws of supply and demand, solid company fundamentals and
favorable company press releases, resulting in plummeting stock prices. The laws
of supply and demand have been denied and investors deprived of fair value.
Meanwhile, the company valuation of stock has been greatly reduced and with it,
access to investment capital for acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors.
Section 15A(b)(6) of the Securities Act says that the rules of a national
securities association must be designed, among other things to prevent
fraudulent
and manipulative acts and practices and to protect investors and the public
interest, and perfect the mechanism of a free and open market. Section
15A(b)(11)
requires that association rules be designed to produce fair and information
quotations, and to prevent fictitious and misleading quotations. In spite of the
intent expressed by these two sections of the Securities Act, and unlike the
Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short
positions
on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB
stocks. This leaves the OTCBB listed companies prey to market manipulation on a
scale only limited by the greed and imagination of the MMs. The MMs just keep
selling the targeted companies stocks with the idea that they will never have to
produce real shares. Their apparent goal is to force the company to fail by
depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: ldt@ragingbull.com at Internet
Date: 07/05/2000 10:28 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 22:28:51 2000,
The following information was submitted:
Host: 142.165.224.159
submit_by = ldt@ragingbull.com
Name = Lorne Thomson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: flatrate2000@hotmail.com at Internet
Date: 07/05/2000 10:31 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 22:31:03 2000,
The following information was submitted:
Host: 142.165.224.159
submit_by = flatrate2000@hotmail.com
Name = Kris Thomson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: slicktran@hotmail.com at Internet
Date: 07/05/2000 2:59 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 14:59:51 2000,
The following information was submitted:
Host: 63.212.132.116
submit_by = slicktran@hotmail.com
Name = Anthony Tran
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: RoyUrban@aol.com at Internet
Date: 07/05/2000 5:30 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 17:30:18 2000,
The following information was submitted:
Host: 152.163.206.191
submit_by = RoyUrban@aol.com
Name = Roy Urbaniak
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: HnkV@aol.com at Internet
Date: 07/05/2000 7:15 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 19:15:09 2000,
The following information was submitted:
Host: 152.163.213.53
submit_by = HnkV@aol.com
Name = Henry Vaillancourt
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: VANBROTHERS@AOL.COM at Internet
Date: 07/05/2000 12:57 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 12:57:42 2000,
The following information was submitted:
Host: 205.188.197.29
submit_by = VANBROTHERS@AOL.COM
Name = WILLIAM E. VAN
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: chazz4@hotmail.com at Internet
Date: 07/05/2000 2:30 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 14:30:56 2000,
The following information was submitted:
Host: 24.48.26.3
submit_by = chazz4@hotmail.com
Name = Charles H. Waldbauer
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: fwhite42@yahoo.com at Internet
Date: 07/05/2000 12:36 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 12:36:43 2000,
The following information was submitted:
Host: 209.27.75.100
submit_by = fwhite42@yahoo.com
Name = Fred White
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: pwial1@home.com at Internet
Date: 07/05/2000 9:09 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:09:13 2000,
The following information was submitted:
Host: 24.2.9.37
submit_by = pwial1@home.com
Name = Peter Wial
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: zaneemilio@msn.com at Internet
Date: 07/05/2000 9:43 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 21:43:16 2000,
The following information was submitted:
Host: 216.59.47.26
submit_by = zaneemilio@msn.com
Name = Emilio Zane
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: wabba@yahoo.com at Internet
Date: 07/05/2000 12:23 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 12:23:48 2000,
The following information was submitted:
Host: 209.146.242.72
submit_by = wabba@yahoo.com
Name = wayne zelders
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = PHXU
I am writing you this letter to show that I am in favor of the proposed Concept
Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a
small company is access to capital for creation and growth. It is also known
that investors who place funds in such companies expect and deserve protection
from fraud and manipulation. Small business is a critical building block for
jobs and wealth in our economy. MMs have steadily been selling more shares than
they have bought, defying the laws of supply and demand, solid company
fundamentals and favorable company press releases, resulting in plummeting stock
prices. The laws of supply and demand have been denied and investors deprived of
fair value. Meanwhile, the company valuation of stock has been greatly reduced
and with it, access to investment capital for acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: zequeira@yahoo.com at Internet
Date: 07/05/2000 8:55 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 20:55:36 2000,
The following information was submitted:
Host: 63.24.0.93
submit_by = zequeira@yahoo.com
Name = Arturo V Zequeira
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
