Christopher Cox, Another Republican Screw Up
Christopher Cox, Another Republican Screw Uphttp://www.marketwatch.com/news/story/sec-issues-new-rules-against/story.aspx?guid=%7BEE66429D-1713-4944-8FF2-76762394126A%7D&dist=msr_5
"WASHINGTON (MarketWatch) -- U.S. securities regulators issued new rules Wednesday designed to protect investors against so-called "naked" short-selling, including requiring short sellers to deliver securities by the close of business on the settlement date and making clear that those lying about their ability or intention to deliver on time are breaking the law. "These several actions today make it crystal clear that the SEC has zero tolerance for abusive naked short selling," said Securities and Exchange Commission Chairman Christopher Cox. Cox was criticized by Senate Banking Committee Chairman Christopher Dodd on Tuesday for not doing more to prevent abusive naked short selling."
Comment
The SEC is supposed to protect small investors from predators in the stock and bond markets, but Republican Christopher Cox crippled many small investors by ignoring to prosecute uncovered short selling by predators anxious to lower stock prices for their personal gain.
Cox destroyed billions of dollars of equity for small investors and their pension plans by allowing uncovered short selling.
This is part of the Republican brain wash that less regulation and less oversight is good. Masters of the Republican philosophies including President Bush and Senator McCain also weaken government agencies established to protect the public by decreasing their budgets so that they are not adequately staffed to perform their duties.
Food and Drug inspections are at the lowest of all time and Americans are getting sick and some have died for it. America performed 25 times more inspections in the 1960's than they do today and our population has more than doubled since that time.
Labor agencies have been gutted so that OSHA, EEOC, and others can barely perform 5% of their inspections or evaluations that they should. Secretary of Labor Cho is working to eliminate any effectiveness of OSHA before Bush leaves office.
There are not enough ICE staffers or Border Control people to round up illegal aliens nor prosecute any employers hiring illegal aliens.
The Federal Reserve and other watchdog federal agencies believed in the Republican "free market" and less oversight and the banking system and home mortgage systems are in the toilet.
One would think that America would have an energy plan by now since more than a dozen other countries either are already free from imported oil or are on their way to that freedom, but we don't. The Republicans are still oil bigots and even while Big Oil has refused to drill on millions of acres of oil land in America, have made offshore drilling a major issue that Big Oil will most likely refuse to drill on also. It is time to bring America to the 21st century and be realistic to commit to renewable energy and natural gas that America has plenty of. The media has called America the Saudi Arabia of natural gas in the world.
Republicans believe in the unregulated free market which gave us high inflation. Consumers have less descretionary funds for merchandise because they are paying excessive gasoline and home heating bills. Food has went up double digit also. The also aimed to deflate incomes and benefits of the workers which was highly successful but now these consumers do not have the money they should have to keep the economy going. Even at the lowest rung of the pay scale, minimum wage earners had to wait 7 years of annual inflation before they receive their first increase during the current Bush administration and it was inadequate. Even McCain voted against minimum wage increases at least 17 times.
America has a consumer economy where it is critical that consumers spend their money on goods and services. But when the consumers do not spend or
And these are the people that fudged that Saddam Hussain had weapons of mass destruction and brought us many years of war there and McCain says we may have to stay there 100 years. The Republican neocons are war mongers.
Nobody has seen any beneficial result from the Republican smaller government, free trade, less regulation or any other Republican concept that Bush put in practice. In fact they all became disasters. McCain and Palin still believe in the Republican concepts of smaller government, free trade, less regulation, and others that have been proven not to work.
Republicans ruined most things American and they still think that they are right. McCain and Palin represent 4 more years of Republican free markets, less regulation, and less oversight and war.
I do not how they can show themselves in public anymore. They screwed everything up and want to screw thing up more. They are disgraces to themselves and America. And they want to screw up America even more if McCain and Palin are elected in November.
posted by God Bless America - Bob @ 2:25 PM
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