Mr Cooper Group Inc (COOP)

[ItsMyOption]

My Letter mailed to The Honorable Steven T. Mnuchin with CC to SEC. I would like to see others also drafting a letter

April 9, 2020


The Honorable Steven T. Mnuchin
Chair Financial Stability Oversight Council
U.S. Department of the Treasury
1500 Pennsylvania Avenue NW
Washington, D.C. 20220

Dear Chair, Mnuchin:

As a small investor with my only savings like most of us in a 401K or self-funded IRA account I wish to point out a few facts. I watched back in 2008 when we all witness a financial meltdown on Wall Street and my life saving was wiped of over 50% in lost value. In my opinion it was the greed of Wall Street Large Banks and their close Hedge funds that caused that Financial destruction – yet they where the ones that received Taxpayer funded bailout plans.

Now we have the novel coronavirus (COVID-19) that the same group is using again in this Financial destruction for their personal gains. WHICH IS CAUSING MORE ECONOMICAL DISASTER COVID-19 OR SEC Lack of regulations on WALL STREET?

Why does our Government regulators not do their job to regulate and enforce their own regulations? When the market was recently going through the large swings who does that benefit – yes, Wall Street and the powerful Hedge Funds. Why was a DO-NOT SHORT RULE put in effect like it was in 2008 to slow the manipulation down?

The SEC in my opinion does not help small investors instead they give Wall Street and their Hedge Fund friends all the tools to take money from small investors by manipulating the market daily.

Why does the SEC even allow short selling or worst Naked Short selling? It is not health and has no transparency as those that short the market do not need to file any reports for transparency.

The SEC and our government need to wake up with the destruction these large Hedge funds have done. Changes are needed now.

IS THE SEC WAITING TILL ALL THE WEALTH OF SMALL INVESTORS ARE TRANSFERRED TO THE BIG HEDGE FUNDS BEFORE THEY WAKE UP, AND STOP THE MINIPULATION?

Some simple rules are needs now:

- Stop Naked shorting of all securities. Also consider stopping shorting of any security, or at least for next 2 month as the Hedge funds are destroying the wealth of small investors for their personal greed!

- More discloser from Wall Street on the shorting of stock. Those that Short a security must report it for transparency.

- Big financial firms cannot use their analyst opinion to help them manipulate a security – example I have many securities that I feel insiders who have many Hedge funds on BOD’s are shorting or buying a security before they have their Analyst help in that movement.

- The SEC must make stronger rules against the abuse and manipulation Hedge Funds and Market Makers do daily in manipulating the pps of all stocks.



Sincerely,
David $$$$$$$

CC:
• Chairman Jay Clayton [phone]; [e-mail]
• Allison Herren Lee [phone]; [e-mail]
• Hester M. Peirce [phone]; [e-mail]
• Elad L. Roisman [phone] [e-mail]