March 27, 2007
What unbridled hubris Another Grandfather Clause comment period? What part of 'selling what you don't own and never delivering' do you pinstriped, terrorist abetting, counterfeiting, hedge fund lap dogs, Cayman Island devotees not understand. Your own commissioner has said 'Reg SHO has not worked and Naked Short Selling has abused and continues to abuse investors'. Leaving aside the implementation of said 'Grandfather Clause' is/was illegal and outside your agency's purview/authorization. We millions of investors, retirement fund holders, small raped business owners DEMAND the immediate reversal of this REG SHO window dressing and free pass Grandfather Clause within it. While you are fiddling, Rome is burning. So, here's my comment. Get off your bureaucratic asses and adhere to the original 1934 Securities and Exchange Act that prohibited the exact same action of 'Pools' (read: Hedge Funds') that caused the 1929 crash. Failures to Deliver is a euphemism for stealing. Period. And this practice is siphoning off billions of dollars out of our economy into nefarious endeavours dedicated to destroying this nation. Through your inaction and greed, you have created a Frankenstein with which the villagers are fed up. How do you purge this beast, you ask? Occams Razor seems an apt guideline. Look it up. We all await your swift and immediate restoration of the free market principles and practices that made this country the financial powerhouse/envy of the entire world. Now I'll go hold my breath.
Regards: Dennis