Not too long ago, I posted info on an upcoming SEC panel discussion regarding proposed changes in the rules applying to shorting. To be discussed was a proposed short sale price test as well as circuit breaker restrictions, etc. Of the proposals to be discussed, naked shorting was conspicuous in its absence. Not a word about naked shorting. So far, I have not been able to find any results of that discussion which included speakers from JPMorgan, Schwab, etc.
In line with this, the SEC is seeking comments until June 19th on those proposed changes.
A number of comments have already been sent to the SEC (links below). The following is a copy of one (not me. I'm working on one).
Dear SEC,
I demand this rule be passed, naked shorting must be completely stopped and made illegal. Stop hiding the term naked shorting with the term toxic assets. Shorting stocks in a times of tragedy like Sept 11, 2001 and in the current financial crisis must be stopped.
I demand this rule be implemented as naked shorting has destroyed CMKX diamonds when it traded, CMKX was a stock that was naked shorted in the hundreds of billions and revoked .
At the time of CMKM's revocation, CMKM had 703,518,875,000 shares of common stock validly issued and outstanding.
and now Ben Bernanke of the Federal reserve along with Mr Paulson in 2008 asked for a 700 Billion dolla bailout. Why? America demands action and more rules to help stop naked shorting and toxic assets and more stringent rules so that the people responsible for causing this banking crisis arent the ones who receive and get to manage and deposit Bailout money back into their crooked bank vaults.
.
Thank you
THANK YOU. (this letter will be posted through out the cmkx shareholder base and on major stock boards so that you dont censor it and hide and try to change rules as to absolve yourselves as you have done in the past when it came to naked shorting.
Have a Fantastic day.
CMKX File 2009.
http://sec.gov/comments/s7-08-09/s70...
http://sec.gov/index.htm
http://www.sec.gov/comments/s7-08-09...
