February 11, 2007
It is my understanding that the SEC is reviewing the "grandfather clause" that has been (illegally - in my opinion) inserted into the Regulations SHO, and there are those who want it (illegally) kept in force.
If this is true, under what authority does the SEC have to grant immunity or exemptions to certain players from the rule of law ?
If this grandfather clause is continued, what is to prevent present or future entities from thinking that if they commit NSS (counterfeit securities) into our stock market, that they cannot obtain another such "grandfather clause" covering up thier crimes from prosecution as well as is done now for those in the recent past ?
Until the SEC has no more conflicts of interest, how can they effectively monitor our markets and police the fraud?
"RULE OF LAW" used to be an effective argument. Why isn't it anymore ? What has changed ? What motives have taken that argument out of play ?
What the heck would an inventor such as I want to have anything to do with capitalism in America if the stock market itself is so rigged against the little guy ? Remember that inventions are the cornerstone of any economy, and this (grandfather clause) is yet one more thing there stifling commerce thereof.
Capitalism is great but if you cannot (or will not) regulate the fraud out of even the stock market, what good is it ? What else is there ? Is our nation now in decline ? Did the USSR win afterall ?
Thanks for considering my comments.