August 21, 2007
I feel the new amendments to the Regulation SHO are a very positive push for a fair market place for all. I truly never understood how the Grandfather Clause ever made in as a rule. It seems that the original intent was malicious and the only ones benefiting are the ones involved with manipulating the market place. This new proposed rule is another enormous step in further making the market place an equal opportunity for all investors. The number of fails to deliver in our market is more of a concern to me than the current sub prime crisis. No one will ever admit or know the real number of the outstanding fails to deliver securities due to the laws that regulate them. I am ashamed to witness the crimes that go unnoticed and are belatedly ignored on a daily basis. I have lost faith in our system and believe that I will get treated more fairly in the international markets or a casino. The United States economy is at stake and will likely fail if our Securities and Exchange Commission doesnt start acting like a regulatory committee.
I truly hope the SEC will change my opinion and negative view on the way they regulate the markets. I am for the new proposed rule on constricting the fails to deliver epidemic. The only way to restore the integrity of the securities market is to actually enforce the rules once there are in place. We shall see Oct. 15, 2007 once the grandfather clause is official eliminated. We shall see how serious the SEC is about regulation or just more notorious empty promises.
John