From: Dick Wismer [rwismer@brittonsd.com] |
I urge you now to use every means to stop naked short selling sometimes called counterfeit shares. Naked short selling increases the volume of shares way beyond the number issued and effectively dilutes the value of the stock. Many of the smaller, most innovative companies are being forced out of business by the short sellers. Since the mid 1990's, the SEC has been aware of naked short selling and failed to adequately respond to investor and company complaints alike. In recent years the FBI, SEC, and the Royal Canadian Mounted Police have conducted investigations into naked short selling and followed these sales through money laundering schemes used by criminal elements. Those elements jeopardize our Homeland Security. Unbelievably, the practice of naked short selling still continues to this day regardless of where the profits are going. If the SEC has failed to take adequate counter measures to stop this illegal trading practice, we not only need to know about it, but we request an accounting of their actions. Hopefully this will be done as soon as possible. Richard Wismer |