May 26, 2010
I am one of the little guys,a retired gov employee with rollover of TSP Ira, MS accounting and finance, who is tired of rules that in this new economy appear to let funds and private equity have an unfair advantage over the average citizenry who wish to participate in stock markets as part of our portfolios. My reseach reveals that the lack of any requirement to own securities prior to shorting them has allowed large capital entities to drive down equity values though large volume shorts against many of my long positions with them having zero risk on the long side. This is patently unfair and rules should prevent this. Don't House and Senate members belong to the same retirement program and are they not tired of the diminishing returns caused by this practice?
Program electronic trading volume has radically modified the playing field which without curbs or stops both up and down will result in a continuation of immensely increased volitility which appears to make our makets more instable than fundamental research shows to be realistic.
Please ,please fix this as best you can, I thought I was prepared for retirement and now I must consider reentering the workplace due to a lack of adequate market regulation.
Sincerely,
N. W, Beach