In signing this petition, you are requesting that there be an
independent Congressional investigation into the Securities and Exchange
Commission's actions regarding the manipulative and abusive trading practice of
naked short selling. This petition will request that the investigation seek
answers as to why this illegal trading practice has been allowed to
exist for over a decade without significant enforcement and regulation to
prevent it.
Since the mid 1990's, the SEC has been aware of naked short selling and
failed to adequately respond to investor and company complaints alike.
In recent years the FBI, SEC, and the Royal Canadian Mounted Police have
conducted investigations into naked short selling and followed these sales
through money laundering schemes used by criminal elements. Those
elements jeopardize our Homeland Security. Unbelievably, the practice
of naked short selling still continues to this day regardless of where the
profits are going.
If the SEC has failed to take adequate counter measures to stop this
illegal trading practice, we not only need to know about it, but we
request an accounting of their actions.
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