Reversals of SEC's Policies
1. A few years ago, a reg sho list is established to identify securities that were not being delivered by market makers at the clearing house. Enforcement of this list (delivering after a few weeks on it) does not exist to this day (this affects people who buy in anticipation of new enforcement announced a few weeks ago).
2. A few weeks ago, the SEC announces a ban on NSS by everyone-including MM's. They reverse the MM ban on a Sunday, before it goes into effect (purchases on the Thurdsday/Friday prior would be influenced by this).
3. A few weeks ago, the SEC declares they will begin publishing who is short in what-making short disclosure comparable to long disclosure. Quietly, this too was reversed and never put into effect (this would affect people buying in anticipation of the rule).
These are just a few points that affect ABK and many other stocks. It seems the only advocates of non-disclosure and NSS are the people who have found a way to successfully game the system to their own advantage at the expense of not only the individual investor, but anyone with 401k's, ira's, pensions, school funds, etc. in the market.
It is one thing to say and do nothing, but it is another to say "we will do this" to combat the problem and then don't do what you say time and time again with no explanation. It is one thing for info. on a MB to be screwy, but to have a gov't office (tax payer funded) publicly announce this is what they are going to do in reaction to a crisis and then reverse it in days is a betrayal of the public trust they are paid to uphold.
BY BEING USED TO MANUIPULATE THE MARKETS IN THIS WAY, THE SEC HAS BECOME PART OF THE PROBLEM AND CAN BE SEEN AS ANOTHER TOOL IN THE ARSENAL OF THE SMALL GROUP OF PROFITERS THAT WANT NSS, NON-DELIVERY AND NO TRANSPARENCY TO WHAT (AND HOW) THEY ARE DOING.
SEC SHOULD BE HELD RESPONSIBLE FOR THIS-PROSECUTED.
Source: investorvillage.com
Cheer, |
