July 8, 2010
-"Comments attached"
Please stop letting Wall Street drain individual investors retirement funds by using flash trading. The world has changed and the rules have not changed to prevent legal theft of investors funds.
The stock market is no longer an investment it is a casino. The words used in financial news use words like a good "play" or a good "bet".
I am one of the investors that has lost confidence. Even if I think the market is headed upward I still will not re-invest until I see the SEC create rules to stop this kind of trade.
I know we are in the world of electronic data, and I use it myself, however I have a Money Market fund that only allows three checks a month. I am told by my bank that this is a law. No one and I mean no one needs to trade funds at eh rate of every fifteen to thirty seconds. I have casino nearby if I want to gamble.
I guess I wonder like many others if anyone ever even reads these post, however I can only hope that someone does.