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This may be of interest...
Gentlemen:
IN REFERENCE TO THE ABOVE AMENDMENTS, the SEC appears to have engaged in treason against the people of the United States. The actions of the SEC could be construed as a financial act of war against other countries whose investors invest in the US Capital Markets.
NONETHELESS, AT A MINIMUM, the SEC is liable for negligence and at most organized crime charges could be argued. The SEC has demonstrated an abysmal failure to oversee the clearing and settlement systems for stocks and options.
THE SCALE OF ABUSE IS UNPRECEDENTED in scope. The financial damages caused directly or indirectly by the SECs failure to follow the law, whether by inaction or complete awareness, are astonishing. The SEC facilitated theft, which by some estimates amount to trillions of dollars. Trillions of dollars stolen from investors throughout the world via the SEC's failure to supervise settlement and clearing of securities traded in the US national market system.
THE SEC IS IN VIOLATION, has been in violation and remains in violation of the Securities Processing Provisions of the 1975 Amendments. This is evidenced, not only by the illegal felony grandfather clause, but is evidenced by the SHO list of fails, where some fails persist beyond any reasonable time frame-- some as many as 180 days without proper delivery and some are likely decades old.
IN FACT, THE SHO list should not exist if trades clear and settle in accordance with the Securities Processing Provisions of the 1975 Amendments.
UNDER SECTION 17A, the SEC was given authority to facilitate establishment of a National System for prompt and accurate clearance and settlement in securities.
A KEY COMPONENT OF SEC supervision of the securities clearance settlement system is its AUTHORITY to REGULATE clearing agencies.
THE SEC HAS EXPOSED ITSELF TO trillions in punitive effects, in my opinion, for this egregious, horrific, criminal act, demonstrated by its abysmal failure to carry out the mandates of the Securities Processing Provisions of the 1975 Amendments to the Securities and Exchange Acts.
IT IS ALSO TIME TO ELIMINATE ONCE and for all, the equally illegal felony grandfather clause that the SEC claims is being eliminated for the past year.
YOU MEN OVERSEE THE running of one heck of a scam of a securities market, in my opinion. I have to shake my head. The entire government needs to be replaced. You have even allowed the executive branch to merge with the Judiciary branch.
THE ENTIRE US NATIONAL MARKET SYSTEM IS CORRUPTED, and by all accounts you have managed to kill the Constitution of the United States by not carrying out your public duties. You serve at the pleasure of the people. You do not serve at the pleasure of the Business Roundtable.
Sincerely.....
jmo
