by Simon Sez Some years back our government was run by the people, and for the people. If you’re old enough, you remember. Those were the “good old days” everyone talks about, but few people remember. Today, our government is pretty much run for the special interest groups and their well-paid lobbyists. Special interest groups that represent the banking and investment industry triggered the recession we now face. The recession was actually brought about by a decision that was made by the bankers in the Federal Reserve. They removed the uptick rule. That one decision allowed hedge fund operators the freedom to short sell stocks, generating millions of dollars of commissions for themselves, and creating a domino effect that cascades through the entire economy, ultimately impacting everyone. Since the public suddenly has less money to spend, they will spend less. Since the public is suddenly spending less, employers will need less employees to accommodate the customers they have. Less employees means less money in the economy— less money in the form of paychecks causing wages to shrink. Less discretionary money in the market place has a detrimental ripple effect on the entire economy, ultimately impacting everyone. The following statistics come from a company that tracks short selling. Listed below are the five companies that experienced the largest decreases in short positions from mid-January to late January, 2009 as the Obama Administration got on his soap box screaming “national crisis,” and demanding that the taxpayers, already hard hit by short sellers, bail out the bankers, industrialists and investment brokers. The five companies
that experienced the worst losses are:
Company Net Change %Change
Nokia -19,760,784 -51.58%
Wells Fargo Bank -14,195,458 -11.28%
Walmart Stores -10,415,288 -20.52%
J&J -8,076,583 -23.99%
EMC Corp -7,563,242 -14.17%
The losses experienced by these companies (and scores of other corporations) represent billions of
investor dollars lost to naked short selling. Some stocks lost 50% or more of their value. The public’s net
worth has also dropped dramatically. Many have lost their jobs. Companies are laying off employees by the
thousands, and the corporations themselves are in deep trouble due to these devaluations.
Bankruptcy looms large for scores of companies and individuals alike. Not only are our financial institutions
in trouble—we’re all in trouble. All of this comes from a common source: repealing the uptick rule and allowing
hedge funds to use naked short selling. Here is the question that needs to be answered—QUICKLY!
When will our government and the bankers who control our financial markets recognize the damage that
short selling and naked short selling have caused? Will they end the practice before our economy is completely
destroyed? We need a real “PEOPLE’S LOBBY” to compete with the special interest lobbies. How
do we become a lobby? Do you know anyone in government? If you do, you’re a lobbyist. Call them. Send
them a copy of this ad. Enlist their support to contact the staffers of every Congressman and Senator they
know, and send them copies of this ad. To reach the politicians we need to reach their staffers. Only loud,
angry voices promising voter retaliation on Election Day will make this happen. Don’t wait! Do it today.
Simon Sez
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