July 18, 2008
I may be a relatively unsophisticated investor, but alert enough to recognize that our SEC is not enforcing laws that are and have been on the books for many years regarding naked short selling. Short selling is recognized as an acceptable, maybe even a balancing factor in the trading of securities, but naked short selling is another matter. Why, why, why does the SEC permit it to go on, even knowing that it is still illegal? It should have been stopped years and years ago, but it certainly has to be stopped NOW. The protection you propose for Fannie Mae and Freddie Mac should be the same protection every company should have for their stock. If the SEC is going to continue to ignore the law, the least we should get for our tax money is an explanation of WHY