February 11, 2007
The Sec is a enforcement agency and not in the business of making laws. Therefore undo your mistake and remove Grandfather exemption beyond 2005. The elements who have fleeced the american investors have done a great diservice to the intergrity of our capital markets.
The SEC should not be in bed with with these entities. The mission of the SEC is to protect and uphold ethical standards for the present and future generation of investors. Once the American public get wind of the wrongdoings you'll see carnage in the streets with the billions that have been stolen and now swept under the rug with The Grandfather Clause providing cover.