September 11, 2007
After hearing the comments made by Senators on the Judiciary Committee when Gary Aguirre testified, one has to wonder why the SEC has spent so much time dragging it's feet with Reg SHO. The thought that our regulators are either inept or in collusion with the very entities that they're suppose to police is troubling.
The internet has provided an impartial venue to inform investors and expose the corruption that exists in the marketplace, as well as the SEC's habitual inaction to subdue it. Let the word go forth to the Commission that there is a growing cadre of retail investors, (read that, victims of market corruption) that are now paying close attention to the actions, or inactions of those who've been charged to oversee our markets.
The SEC was formed to ensure that the cataclysmic events of 1929 do not occur again, however by all accounts of late it's apparent that the SEC is either unable or unwilling to do it's job in an expedient manner, much to the detriment of our markets. Does history have to repeat itself before any action occurs?
In conclusion, I would suggest that the SEC do their job and stop dragging their feet with Reg SHO, and other efforts to ensure market transparency. We the people, the small investors insist on transparency in our markets. The days of keeping the masses in the dark are about to come to a close, so I urge the commission to the right thing, or be ready to answer the hard questions.