As the Editor of the Web Site Investors4Justice, I wish to thank Bruce , editor/owner of 'Seeking Alpha.com,' For his gracious and generous coverage of the Petition we Sponsored to Bring the UpTic Rule back in FULL Measure.
And, to get the FTD's the Banks still hold from the SubPrime Debacle AUDITED!!..
As Goldman Sachs and the hedge funds which owned the majority of Shares in, they used the Investors and tax payers Money to 'Buy' shares in the Mortgage Companies ( In which they too owned the majority of holdings)..
Manipulating the PPS Levels to all time highs.. Then SOLD all at once..
One Mortgage company after the other went Bankrupt, while all the 401Ks, and Investor Money went to These Hedge Funds accounts. While NEVER Returning the Naked Short Shares they BORROWED from us.. FTDs', 'Failure to Deliver'.. Have Gone unaudited on these banks balance sheets.
The Petition (Sent out in February of 2010) Demanded these Audits as well as the UTR (UpTic Rule) be Reinstated with out some diluted 'circuit breaker' the SEC Chair mentioned she would put into it.
It merely waters down the impact of the Rule, and allows the Reuters Trading program to continue the Lawless manipulation the MMIDs use to Abuse the system. This New Program Wall Street Began came into Use the same month the UTR was Abolished is UNREGULATED!
These Crooks Bought access to the Program Software for THEIR use Against the OnLine trader.
The UTR was a wrench in this new program's works.. They easily had it taken off after 65 years of keeping The Market Fair, and the Rules and regulations working to stop crime.
In 2006, the Hedge Funds lobbied the regulators to allow them to have seats on the Board of any Company they owned 40% of that company's' shares. Of Course that could not be allowed, as it would avail the Funds, the MM's.. Unfair access to company Decisions, etc., can you say INSIDER TRADING? It's illegal!
Of course they knew their lobbying for such a thing would be denied, but they had another agenda all Together.. To have THEIR Software for High Tech trading upgrades implemented in the NYSE.. ! Goldman Sachs was behind this Lobby.
The Regulators gave it to them without one bit of Research Data showing what effect it would have on the Market.. Cart Blanch Access that no Individual Retail OnLine Investor was privy to.
A program software implemented into the NYSE.. Created with 'Algorithms'... That opened the doors to Flash Trading.. Black holes.. And more.. Keeping the Actual orders of the retail community of traders from being Seen on any view to the street to Brokers and their clients trading platforms.
The Coup de grâce was not just the loss of a regulated Street Program, but the fact that it could not work In their Favor unless.....
They got the SEC to get rid of the UpTickRule... It was a wrench in their corrupted program!
They even go the SEC /Oig Inspector General Linda Tompson to Lie to the Oversight committee When declaring that the loss of the UTR would only be a 19% problematic situation for Street Feeds.
When I discussed this With H.David Kotz a month later (Oct. 2007)..that what Thompson stated was in no Way the fact.. He agreed, and investigated. By Dec.. Mr. Kotz discovered the Data presented to the Congressional Panel was off by over 70%...
It was in fact a problem in new Technology by a whopping 90%!
Needless to say, Ms. Thompson was fired!
But, we never did get the UTR back.
SO......Who's minding the Store?..
Ignorance of how the market Program is abusing the Retail Investors by the members of the Oversight Committee is ONE of many reasons our 401K's are nearly wiped out, our Banks tanked, The DOW tanked..!
There is no excuse for NYSE Street Crimes. To continue on to this very day, with all we are Aware of at this juncture.
What effect does this have?.. It only allows us to see huge blocks on the Ask.. (Painting the tape,, another Crime which came into effect after the 1929 crash)... This Painting of the tape.. If solely meant to Psych The retail trader into thinking everything is on the Sell side of the stock. When we do, they immediately Steal shares.. By running the PPS up when they flash trade anyone from buying bTo trade in fractions of a Cent above a Buck.. RETAIL TRADERS CANNOT!!.
It keeps us again, from getting our limit orders from getting filled on Market levels.
Another thing this program allows, is for those 'elite few' with sole access No protection what so ever. .... As they simply enter their orders for the day, ... And the Program puts them all at the same level in order to out trade the vulnerable Retail trader!
See the ...... 'Collusion'??
Unified trading.. Is Illegal!
. We only have Sites like this one , Seeking Alpha , and ZeroFunds.com to inform us of the Collusion and corruption, and are not part of the mainstream media in the pockets of the likes of Goldman Sachs and other Big Bux Boys running the News.
. We try to bring to the attention of Tax paying Citizens and Investors the Facts... Lifting the vail of ignorance and complacency, and hopefully inspire you to get involved . To Make the Effort to force those we pay salaries to, SEC, DOJ, Congress, The Senate, and the President. to DO THEIR JOBS!
This Program without ANY Regulations , handed to them on a silver platter by the Regulators.. Manipulates Stock Levels, and Abuse the trades , .. is SO Wrong on SO many levels!
When will we get an SEC Chair that is NOT an ex employee of Goldman Sachs?
Forget about it being a Feather in a cap.. it's now a source of Shame, And a Red Flag of unethical behavior. Contact your State Representatives.. DEMAND they act on this. Or tell them YOU will Act, come Voting day!
Marlow
Sr. Editor Investors4Justice.
