September 11, 2007
I believe that Naked Short Sales is Counterfeiting Securities and that this is illegal (a Felony).
Writing a Regulation which appears to be an attempt to legalize any illegal operation, especially a Felony, is beyond my comprehension.
I feel sorry for all the companies who have been forced out of business due to naked shorts and all the owners of these companies and their families who have lost everything, for the benefit of sheer greed and corruption. I also feel sorry for the honest investors who placed 401 k's and other accounts (their futures) into a situation such as this.
I strongly believe these people who experienced these loses should be compensated greatly for their losses and their anguish and suffering.
Our government's role should be one to protect the American Citizens. Our stock market and the regulation of it at this time, in my opinion, is nothing short of a disgrace in the eyes of America and the World.
I believe all responsible parties should be held accountable for restitution and that this opportunity to steal should be stopped permanently by whatever means necessary.