A MUST READ - A LETTER TO A CONGRESSMAN
I FOUND THIS LETTER TO BE INTERESTING AND QUITE ACCURATE
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December 30, 2007
Congressman Dana Rohrabacher
2300 Rayburn House Office Building
Washington, D. C. 20515
Ph: 202-225-2415 / Fax: 202-225-415
Dear Congressman Rohrabacher,
I am one of your constituents living in the City of Long Beach. I have been a teacher in the Los Angeles area for several years and an occasional investor in the stock market. Over the years, throughout my investing experiences and through my seasonal work in a business law office, I have learned of the immense corruption that has been, and still is rampant on Wall Street, and the completely unrestricted license given to the criminals by both the Securities and Exchange Commission and the Justice Department to rob and steal Americans blind. It is this corruption and the lack of law enforcement for which I am writing you this day.
Although I might expect unsavory characters to infiltrate Wall Street and utilize unscrupulous tactics to steal money from innocent investors, I never expected to see both the SEC and the DOJ sit by idly and merely watch the process without making any real efforts at law enforcement. The issues of naked short selling and counterfeiting shares of stock has permitted an unrestricted thievery from people selling bogus stock to innocent investors. Basically, these criminals either sell electronic shares without any real shares to back up the sales, or they physically counterfeit shares and put them into the market with the complicity of dishonest transfer agents and/or brokerage houses. Basically, the bad guys are being allowed to sell what they never owned in the first place. Years of complaints have been submitted to every law enforcement agency, congressman, federal prosecutor and the media, and the only changes seen are the increased rate of theft. Simply put, all aspects of real law enforcement has been on vacation!
With these additional illegal shares in the marketplace, the ordinary balance of supply and demand is corrupted and the price always unfairly suffers to the negative. Basically, if you create an unnaturally high supply in the light of an ordinary demand, you will kill the price of any currency, goods or services, including stocks. After destroying the price, the criminals have a vested interest in seeing the company die, so they engage in every imaginable act of sabotage to discredit the company and destroy growth-related opportunities. It has become a racket of immense proportions and is on one of the primary reasons that the USA has gone from being the place that 90% of the IPO's in the world opened up for trading 20 years ago, to now being the place that merely 15% of the IPO's in the world open for trading. Our system is failing and the regulators have the proverbial front row seats to the entire affair.
Just to give you a figure tossed about by both the media and by congress, I will quote both Bloomberg and Orin Hatch as they both expressed the fact that there are at least $6 billion dollars per day in sales of stock that are not backed up by real stock. That amounts to approximately $1.5 trillion per year. Imagine that has gone on for almost 20 years! The naked shorting does not address the massive amounts of counterfeit stock in the system that the Depository Trust fails to catch, and from my understanding, participates in creating. Overall, the economy, the standard of living and the very national security of our country is being destroyed from those enemies, both foreign and domestic, by way of these ongoing acts of thievery.
Sir, I love this country and the people in it. I am confident that you have patriotic blood in your veins and that you want America and Americans to succeed. However, I ask you what is logical to expect for America , if at the bottom of our financial pool, there is a massive drain with a minimum of $6 billion dollars per day being siphoned out? This nation will soon be turned into a 3rd world nation, with the middle class gone and nothing remaining but the elites, who either had enough money to weather the storm of theft, or who are the thieves themselves. The rest of America , the vast majority of once middle class people, will be left impoverished. After all, it is not merely the direct investor who is suffering due to this radical and unjust siphoning of wealth to the elite upper crust of criminals (many being foreign banking entities). If not robbed blind, perhaps those cheated investors might have started a new business employing a dozen people, or they might have given their employees a pay raise, or maybe loan someone money to for the purchase of a new home. In other words, it is all of us who suffer on a grand scale, either directly or indirectly, due to this ongoing thievery.
Perhaps the most distressing fact to be viewed is that while many states have been forced to take up the charge to protect their citizens, the federal government has actually interfered with their law enforcement efforts. States like Oklahoma , Utah , Florida , South Dakota and Louisiana have tried to address these terrible injustices, either through their legislatures or their courts, but the federal government has actively interfered to protect the bankers. One such instance is the Florida State lawsuit of Universal Express lawsuit against the Wall Street brokers. In that case, as Universal Express was making serious headway in holding the Wall Street firms and the Depository Trust and Clearance Corporation accountable for their criminality, the SEC filed an involuntary bankruptcy action against Universal Express and sought to appoint themselves as trustees. This bankruptcy action was filed immediately after the Florida court ordered the Depository Trust to turn over critical records that would have exposed their illegal conduct. Basically, the bought and paid for SEC stepped in and halted the state action with a preemptive strike in the federal court. Clearly, the actions were to protect the bankers by stopping devastating discovery from taking place. Another case is that of Overstock.com, a company that has been devastated by the practice of naked short selling. That company was forced to file their lawsuit in California State Court due to the fact that little justice can be achieved in the federal court system if the plaintiff is seeking relief against Wall Street.
It has become clear that the framers knew what they were doing when they created a federal system with separate federal and state governments, for the dangers of total corruption on the federal level is too easily achieved. The federal corruption and efforts to undo the states power is easily witnessed in the Universal Express case, as well as the absurd Executive Orders and traitorous treaties the Senate and Executive are entering into with the UN and other signatories. These acts on the federal level cut out the rights of the people to make any decisions and yet, they become the law of the land all the same. Welcome to the North American Union, The Law of the Sea Treaty, the seemingly unlimited "emergency" powers for FEMA and the removal of the right to habeas corpus, all laws of this land that never saw the light of one state's vote or one American vote of approval. Sir, we are losing our country and we are losing it fast!
Sir, you took a sacred oath to protect the constitution and serve your constituents faithfully. I implore you to take a step back and reevaluate the current soft stance the congress has been taking on these critical issues and lead the charge for change. I know it will entail a degree of personal risk, but sir, you sought and accepted your post and all of the duties so associated with it. I encourage you to either act with conviction and fierce determination, or to step aside and let another person accept the charge. If you merely sit and watch, you become a major part of the problem.
I implore you, do not merely read this letter and toss it in the pile of constituent complaints or concerns without taking these matters to heart and making it a priority to right this sinking ship called America . Americans are being raped and the last 3 administrations have merely sat by, pretending to be leading us, while in reality, they have been selling us out and assisting the criminals. Note that the SEC rarely takes any administrative action, other than to punish individual investors for trivial matters, and when they finally land one of the bigger fish for stealing millions or even billions, they ALWAYS end up settling their claims for a mere pittance in comparison to what was stolen. The message being sent is that crime does pay in America , so long as you are of the elite banking class.
I will sign off for now. I thank you for your consideration and I pray for your wisdom and well being.
Sincerely,
David Woodman
Long Beach , California
cc: Senator Dianne Feinstein
Senator Barbara Boxer
