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For the past two years I have devoted much of my time and a considerable amount of resources to educating the American public on short sellers, naked short sellers, and what happened when the Bush-43 Administration (who had to fire Securities & Exchange Director William Donaldson who refused to rescind the Uptick Rule that would allow short sellers to devastate the IRAs and 401Ks of America's retirees) appointed former Congressman Chris Cox specifically to rescind the Uptick Rule.

For those who have not followed my ads in the Washington Times National Weekly Edition, the Uptick Rule was legislated after the Crash of 1929 when it was learned that short sellers caused the Market Crash that devastated the economy of the United States for a decade and destroyed the wealth of millions of working class Americans while it made a handful of investment bankers and hedge fund operators filthy rich.

After running about 30 advertisements directed against the Obama White House and Congress, Congress is finally asking the hard questions of the bankers whose hedge funds are destroying the value of the same stocks their investment banks are recommending to investors. But then, what do you expect? It's an election year. The ad, a parody on hedge fund operators and short sellers, appears in the May 31, 2010 copy of The Washington Times National Weekly Edition. PLEASE...download the article, print it and fax it far and wide. You have my permission to download it and use the jpeg file and have it reprinted in your local newspapers. If nothing else, please forward this page to everyone on your email list. IF WE DO NOT GET THE UPTICK RULE PERMANENTLY RESTORED, BY LAW, THE HEDGE FUND OPERATORS IN THIS COUNTRY CAN STRIP OUR WEALTH ON A WHIM BY SHORT-SELLING THE STOCKS IN OUR RETIREMENT ACCOUNTS. Or, they can wreck the businesses we work for and cause us to lose our jobs. Or worse, they can devastate the housing market as they did between 2005-07 and cause us to lose our homes. UNTIL WE MAKE IT CLEAR TO CONGRESS THAT THEIR REFUSAL TO OUTLAW SHORT SELLING WILL COME AT THE LOSS OF THEIR CAREEERS, THIS PRACTICE WILL CONTINUE. Whether or not we survive Obama's Recession or soon-coming Depression depends on how much of our personal wealth we are able to keep. That wealth does not have to be in the form of stocks and bonds. It can be a little money stuffed in a mattress, or the equity in our home, or just the job we've somehow managed to keep as the economy worsened.

 

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Just Say No
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