Ban Short-Selling Fairly


Honorable Chairman

Security and Exchange Commission

Cc:  Honorable President-elect Barack Obama
       Honorable Speaker Nancy Pelosi and Honorable Senator Harry Reid

Sub: Ban Short-Selling: the Illegal Frankenstein Monster Devouring Wealth

Dear Chairman,

Since June 2001, I have argued with the SEC that the pre-Great Depression era practice of short-selling is suboptimal for the vast majority of taxpayers and investors.[1]

Mega banks, their market making arms and allied and internal hedge funds have practiced short-selling of financial securities, ostensibly for hedging, but actually to nibble away pension plans, mutual funds and retail investments according to my rational inference.  Regulatory agencies have tacitly supported the short-selling practice. 

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