From: Peter Ireland |
Gentlemen, In my opinion the SEC and DTCC have for years been ignoring their responsibilities to the investing public as well as the companies themselves, and this has not been addressed or even admitted to. We have seen critically flawed rules (such as Regulation SHO and its grandfather clause) introduced in the past, that were supposed to correct market corruption, and the clear impression here is that these were simply not designed to succeed. Now you wish to pull another "bunny out of the hat" and hope to sell it, again to give the impression that you are truly trying to fulfil your commitments. We are about to find out just how corrupt our markets truly are (see http://www.youtube.com/watch?v=7fcre8P2UUY and http://www.youtube.com/watch?v=708wDFX28lc). Amongst investors, you folks are seen to be very much part of the problem and not part of the solution. We don't trust that you have changed and haven't yet been compensated for your negligence. I've apparently lost half my life savings due to market corruption, initially believing that the markets were properly regulated. With that went any hopes for retirement. My hope is that the SEC and DTCC are completely dismantled and replaced by new systems and that this rule be given proper consideration by those that I hope will soon be replacing you. Just my opinion. Peter |