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Author: acexp1@worldnet.att.net at Internet Date: 07/07/2000 6:01 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:01:33 2000, The following information was submitted: Host: 12.74.9.115 submit_by = acexp1@worldnet.att.net Name = Kay Abbott Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: johnalbrecht@earthlink.net at Internet Date: 07/07/2000 7:23 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:23:24 2000, The following information was submitted: Host: 147.154.232.5 submit_by = johnalbrecht@earthlink.net Name = John G. Albrecht Professional_Affiliation = Information Systems Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: billy_bang@hotmail.com at Internet Date: 07/07/2000 6:20 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:20:09 2000, The following information was submitted: Host: 196.3.50.241 submit_by = billy_bang@hotmail.com Name = Billy Bang Professional_Affiliation = IT Manager Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: crystal.benfield@broughtonhospital.org at Internet Date: 07/07/2000 9:10 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:10:05 2000, The following information was submitted: Host: 204.211.9.249 submit_by = crystal.benfield@broughtonhospital.org Name = crystal benfield Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: bouffard@silcom.com at Internet Date: 07/07/2000 9:09 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:09:19 2000, The following information was submitted: Host: 207.71.192.253 submit_by = bouffard@silcom.com Name = Mike Bouffard Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: brentjanice@parkcity.net at Internet Date: 07/07/2000 7:41 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:41:07 2000, The following information was submitted: Host: 63.79.78.55 submit_by = brentjanice@parkcity.net Name = Brent Brewster Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: CastleRuin@aol.com at Internet Date: 07/07/2000 7:42 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:42:53 2000, The following information was submitted: Host: 205.188.195.22 submit_by = CastleRuin@aol.com Name = Judene Calandra Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: pk95150@aol.com at Internet Date: 07/07/2000 7:50 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:50:37 2000, The following information was submitted: Host: 208.25.121.57 submit_by = pk95150@aol.com Name = Patrick Corr Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: sdecker14@home.com at Internet Date: 07/07/2000 6:55 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:55:45 2000, The following information was submitted: Host: 24.17.40.134 submit_by = sdecker14@home.com Name = ShaunDecker Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: mdix@attitude.com at Internet Date: 07/07/2000 7:08 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:08:05 2000, The following information was submitted: Host: 165.235.95.1 submit_by = mdix@attitude.com Name = Mike Dix Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: GREATBIZZ@BIGFOOT.COM at Internet Date: 07/07/2000 8:29 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 08:29:28 2000, The following information was submitted: Host: 205.188.200.202 submit_by = GREATBIZZ@BIGFOOT.COM Name = NIKE D Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: mrmrsowl2@aol.com at Internet Date: 07/07/2000 6:30 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:30:19 2000, The following information was submitted: Host: 205.188.192.151 submit_by = mrmrsowl2@aol.com Name = JEFFREY ESPREO Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: chbr@home.com at Internet Date: 07/07/2000 9:03 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:03:29 2000, The following information was submitted: Host: 24.64.2.37 submit_by = chbr@home.com Name = Brian Gazzard Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: glowbug9@pacbell.net at Internet Date: 07/07/2000 6:47 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:47:29 2000, The following information was submitted: Host: 63.23.164.156 submit_by = glowbug9@pacbell.net Name = Ken Globus Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: graphics@usa.net at Internet Date: 07/07/2000 9:10 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:10:01 2000, The following information was submitted: Host: 207.49.212.206 submit_by = graphics@usa.net Name = John Graham Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: vendit@home.com at Internet Date: 07/07/2000 9:09 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:09:31 2000, The following information was submitted: Host: 24.113.31.226 submit_by = vendit@home.com Name = doron grill Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: dgross@microsoft.com at Internet Date: 07/07/2000 8:55 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 08:55:47 2000, The following information was submitted: Host: 131.107.3.74 submit_by = dgross@microsoft.com Name = David K Gross Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. Perfect examples: ECNC, TEXN, TXMC, ESWW MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: tomhaley@email.com at Internet Date: 07/07/2000 9:12 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:12:25 2000, The following information was submitted: Host: 207.235.116.159 submit_by = tomhaley@email.com Name = Tom Haley Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: hedrickbc@aol.com at Internet Date: 07/07/2000 9:10 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:10:20 2000, The following information was submitted: Host: 209.146.33.200 submit_by = hedrickbc@aol.com Name = Bradford C. Hedrick Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: lcfinc1999@home.com at Internet Date: 07/07/2000 9:16 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:16:54 2000, The following information was submitted: Host: 24.4.252.236 submit_by = lcfinc1999@home.com Name = Clinton Herby Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: okie@ragingbull.com at Internet Date: 07/07/2000 6:41 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:41:31 2000, The following information was submitted: Host: 24.67.224.13 submit_by = okie@ragingbull.com Name = Andrew David Hill Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: markingii@home.com at Internet Date: 07/07/2000 7:24 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:24:29 2000, The following information was submitted: Host: 24.9.166.161 submit_by = markingii@home.com Name = Marshall King Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: mark@mlsa.net at Internet Date: 07/07/2000 6:53 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:53:21 2000, The following information was submitted: Host: 38.36.1.184 submit_by = mark@mlsa.net Name = Mark Lancaster Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: dusty57@iname.com at Internet Date: 07/07/2000 7:47 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:47:35 2000, The following information was submitted: Host: 207.149.27.25 submit_by = dusty57@iname.com Name = Dusty Lane Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: ZILLYON@AOL.COM at Internet Date: 07/07/2000 6:19 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:19:33 2000, The following information was submitted: Host: 152.163.207.71 submit_by = ZILLYON@AOL.COM Name = KEN LOUIE Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: jmacfarlane@mpmsco.com at Internet Date: 07/07/2000 6:50 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:50:39 2000, The following information was submitted: Host: 208.32.57.163 submit_by = jmacfarlane@mpmsco.com Name = Jo Anne Mac Farlane Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: kmarcozz@aol.com at Internet Date: 07/07/2000 8:36 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 08:36:04 2000, The following information was submitted: Host: 152.163.201.79 submit_by = kmarcozz@aol.com Name = karen l marcozzi Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: ian@national-color.com at Internet Date: 07/07/2000 9:09 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:09:51 2000, The following information was submitted: Host: 216.190.166.9 submit_by = ian@national-color.com Name = Ian Maycock Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: jmc@netlinkcom.com at Internet Date: 07/07/2000 9:22 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:22:32 2000, The following information was submitted: Host: 206.146.96.246 submit_by = jmc@netlinkcom.com Name = John T. McLaughlin Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = Can you tell me if the S.E.C. is checking into stock manipulation of market makers regarding B.B. stocks? It's horrendous. John McLaughlin Author: Herk_Man@hotmail.com at Internet Date: 07/07/2000 7:45 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:45:04 2000, The following information was submitted: Host: 38.30.79.44 submit_by = Herk_Man@hotmail.com Name = Eric Meyn Professional_Affiliation = Airline Pilot Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I will also be sending a copy of this letter to my Congressmen. The actions of the Market Makers are indeed criminal and they fly in the face of the American Dream. I could care less what happens to my money as my real investments are in major market mutual funds but what the Market Makers do to the brave entrepreneurs out there trying to make it in this land of opportunity should not only be regulated but punished as well. The following expresses my feelings in a more specific manner and is not my own work. regards, Eric Meyn I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: aaron_76@hotmail.com at Internet Date: 07/07/2000 6:34 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:34:50 2000, The following information was submitted: Host: 216.28.111.105 submit_by = aaron_76@hotmail.com Name = Robert Moras Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: heriberto_murillo@yahoo.com at Internet Date: 07/07/2000 9:24 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:24:18 2000, The following information was submitted: Host: 192.152.140.9 submit_by = heriberto_murillo@yahoo.com Name = Mario Murillo Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: rianne3@aol.com at Internet Date: 07/07/2000 7:26 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:26:30 2000, The following information was submitted: Host: 152.163.213.202 submit_by = rianne3@aol.com Name = karen patz Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: Carlton199@aol.com at Internet Date: 07/07/2000 7:28 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:28:01 2000, The following information was submitted: Host: 172.135.115.204 submit_by = Carlton199@aol.com Name = Carlton R. Pennington Jr. Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: bpiranha@yahoo.com at Internet Date: 07/07/2000 7:49 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:49:14 2000, The following information was submitted: Host: 63.195.113.240 submit_by = bpiranha@yahoo.com Name = Brian Perei Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: lcfinc1999@home.com at Internet Date: 07/07/2000 9:18 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:18:19 2000, The following information was submitted: Host: 24.4.252.236 submit_by = lcfinc1999@home.com Name = Jim Phillipe Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: Tkpinto@aol.com at Internet Date: 07/07/2000 8:53 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 08:53:36 2000, The following information was submitted: Host: 152.163.207.79 submit_by = Tkpinto@aol.com Name = Thomas A. Pinto Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: prazuch@home.com at Internet Date: 07/07/2000 7:56 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:56:06 2000, The following information was submitted: Host: 63.24.250.18 submit_by = prazuch@home.com Name = Thomas M. Prazuch Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: john_price55@hotmail.com at Internet Date: 07/07/2000 7:46 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:46:00 2000, The following information was submitted: Host: 216.199.4.57 submit_by = john_price55@hotmail.com Name = John R Price Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: lcfinc1999@home.com at Internet Date: 07/07/2000 9:17 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:17:26 2000, The following information was submitted: Host: 24.4.252.236 submit_by = lcfinc1999@home.com Name = Richard Raabe Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: EmpireOrlando@msn.com at Internet Date: 07/07/2000 6:32 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:32:28 2000, The following information was submitted: Host: 63.24.130.64 submit_by = EmpireOrlando@msn.com Name = Thomas L. Shirley Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: fstile1@aol.com at Internet Date: 07/07/2000 7:18 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:18:09 2000, The following information was submitted: Host: 152.163.204.191 submit_by = fstile1@aol.com Name = fred spohn Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: lynn1880@ix.netcom.com at Internet Date: 07/07/2000 8:05 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 08:05:44 2000, The following information was submitted: Host: 209.146.133.57 submit_by = lynn1880@ix.netcom.com Name = Linda Tarbox Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: udo69@ragingbull.com at Internet Date: 07/07/2000 6:53 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:53:56 2000, The following information was submitted: Host: 216.66.132.126 submit_by = udo69@ragingbull.com Name = Matt Taylor Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: maxthomas@hotmail.com at Internet Date: 07/07/2000 7:41 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:41:07 2000, The following information was submitted: Host: 205.204.186.1 submit_by = maxthomas@hotmail.com Name = max thomas Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: mikesr@trailer.net at Internet Date: 07/07/2000 7:32 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:32:59 2000, The following information was submitted: Host: 64.82.85.10 submit_by = mikesr@trailer.net Name = Michael B. Tobias Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. PLEASE HELP US NOW! Author: sire024@yahoo.com at Internet Date: 07/07/2000 9:05 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 09:05:07 2000, The following information was submitted: Host: 156.153.255.195 submit_by = sire024@yahoo.com Name = Ron V. Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: jgvignola@yahoo.com at Internet Date: 07/07/2000 7:35 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 07:35:14 2000, The following information was submitted: Host: 216.164.183.168 submit_by = jgvignola@yahoo.com Name = James Vignola Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: mike_wallace11@hotmail.com at Internet Date: 07/07/2000 6:08 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:08:53 2000, The following information was submitted: Host: 196.40.31.173 submit_by = mike_wallace11@hotmail.com Name = Mike Wallace Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. Author: bay2water@aol.com at Internet Date: 07/07/2000 6:25 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Fri Jul 7 06:25:39 2000, The following information was submitted: Host: 152.163.206.202 submit_by = bay2water@aol.com Name = H.A.Wiltshire Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control. The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on. MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.
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