March 28, 2007
Chairman Cox,
It is high time the for Grandfather Clause is removed for Failure to Deliver.
Now a new comment period is being opened WHY. Dont youll have enough information as to what is going on? Are you that blind or dont care about the individual investor? Your organization is supposed to guard against such things as Naked Short Sales, but instead you continue to let the Purps get by with it. I thought when you arrived you would clean up the mess but it looks like business as usual. I for one will not invest any more money in the market and believe that there are going to be more that will do the same. However there are suckers born every day and when the old ones are you will have a new crop to draw upon. One thing in particular stands out in my mind is when USCA/UCAD was halted right after a split, I called the SEC and spoke to a Leslie, Who questioned me as to why I bought the stock, DID THEY PROMISE ANYTHING? I thought I would make money on it and had made money. However the SEC halted the stock the day after the split and I can tell you that many lost money that day. Personally I lost $35,ooo. Did the SEC wake up that day and say I think we will just halt UCAD, Well they knew it was going to split and when, why didnt they halt it before the split occur? Who were they protecting, certainly not the investors. there was about 375,000 shares sold that day your organization halted the stock. Too many Failures to deliver have been swept under the SEC Bridge, thinking the waters will wash it away. Well it wont happen not by a long shot. Therefore I ask you to take corrective action and do away the GRANDFATHER CLAUSE, enforce what laws are on the books and catch the crooks and stop the rape of a stock markets. I really expect Greatness from YOU.
Sincerely Yours
Jerry Yearout