Present:
Judy Kramer, Lynne Rustad, Ed Fire, Sherri Culver, Becky Thomas, Lori Zaim, Debi Thomas, Bill Rowe, George Lupone, Kathy Kolcaba
Minutes Approved for 6/9/09: Unanimous
Treasurer’s Report:
• Quarterly Balance 3529.00
• We have paid July’s rent.
• Fundraising activities will be essential to insure financial health of the organization through 2010.
Communications/Membership:
• From 6/14-7/14 there were 40 new paid members
• Total number of memberships for 2009 – 77
• Total number of members for 2009 – 105
• Number of members submitting dues payment with PayPal since it was introduced – 6
• Membership strategic planning will continue with a meeting 9/17 at 10 AM and 10/20 at 9 AM
Advocacy Report:
• Judy Kramer, George Lupone and Becky Thomas attended the Organizing Committee for Democrats of Cuyahoga County Party Reform. We were energized and optimistic about their plans for reforming the Democratic Party in Cuyahoga County.
• The Steering Committee made a commitment to attend the Forum organized by this Party Reform Committee. George Lupone made the motion, Judy Kramer seconded. The date will be established soon and emailed to all members.
• A possible panel discussion with experts about Pakistan and Afghanistan will be tabled for now. There is too much on the agenda this fall.
• We will co-sponsor a meeting with the LWV on Cuyahoga County Reform, the ballot issue for November. A date will be set in October as soon as we know the ballot language, etc.
Health Care Reform Report:
• We will co-sponsor a meeting with Geauga Change at the Geauga West Library on 7/22/09. Gary Benjamin from UHCAN will discuss reform issues at the state and federal level.
• Lynne Rustad will present a senior focus on health care at Hamlet in September.
• 9/22/09 Book Discussion: The Healing of America: A Global Quest for Better, Cheaper, and Fairer Health Care by TR Reid will be co-sponsored with Geauga Change
• Some members of the Saturday Coffee and Politics group are working on fliers to counter myths being circulated by opponents of Obama’s health care reform plan.
• Plans made to visit Senator Voinovich’s office in August to present Patriot’s position on much-needed public option for Health Care Bill. Although Patriots has favored a single payer system, we are aware that Congress has ignored this option, even though 70% of the American people prefer it. A public option could help to contain costs by fostering competition with the insurance companies. Judy Kramer will call for an appointment, and Ed Fire, Kathy Kolcaba, and Lynn Rustad will meet with the Senator.
Education:
• 7/22: Three Cups of Tea Book discussion.
• A fund raiser is planned for November presenting Bill Rowe, food/drink, and a possible auction
• Pat Moore will be contacted about presenting a program on the Constitution on Sept. l7th at the library
Fundraising:
• Ed Fire and Kathy Kolcaba volunteered to head a Fund Raising Committee. Potential committee members will be contacted.
Other Business:
• Sherri Culver will write an ad for the newsletter to try to find someone to share office space/expenses with us.
• Kathy Kolcaba will contact Larry Shibley about obtaining WiFi coverage for our office.
Becky Thomas - Acting Secretary
Wednesday, July 22, 2009
Wednesday, June 10, 2009
June 9th, 2009 Steering Committee Minutes
Attendance: Judy Kramer, Bill Rowe, Ed Fire, Debbi Thomas, George Lupone, Becky Thomas, Ray DiCarlo, Sherri Culver, Lori Zaim
Meeting called to order at 9:30 by Vice President Sherri Culver
Treasurer’s Report:
None given, treasurer out of town
Membership:
• Maybe 65 paid members. Not definite because we didn’t have the list.
• Calls were made to 30 former members who had paid in 2008. ¼ responded favorably
• Pay Pal has gleaned five membership payments
• Web site needs updating. Nothing has been done since April. Who is responsible?
Advocacy:
• Registration of voters this summer and fall will be done under the NOA group headed by Pearl Livingstone and Norm Robbins
• Senator Voinovich has not yet decided whether to support public funding of elections
• It was decided to abandon the program AnySoldier due to lack of participation
• Becky Thomas will attend the Education committee Tues. June 16th to help plan a forum on Afghanistan/Pakistan/Iraq
Education:
• Volunteer service fair was well supported by organizations (17) but attendance was sparse. Everyone involved worked hard, but we probably shouldn’t do this again. The bake sale brought in $105.
• Three Cups of Tea will be presented on 8/22 at the library
• Those wanting to hear author should car pool for the 26th event downtown
• Cuyahoga Treasurer Jim Rokakis will speak Sat. the 13th at 10 at the library on foreclosures and the land bank
• Fund raiser featuring Bill Rowe with a sample of songs from the play written by Bill Rowe and Shelly Bloomfield will be in Nov. It will include a sale of Bill’s books, CD’s an Kelly’s homemade beer
Health Care:
• Ray DiCarlo and Lynn Rustad will continue sending Action Alerts about health care HB676
• Marcia Fudge declared support for HR 676 after a visit from Ray DiCarlo and others
• TR Reid will talk at Trinity Cathedral on 6/20. Call Judy or Ray to carpool
New Business:Discussion of By Laws
• Judy Kramer moved to amend the proposed Bylaws to say that committees will appoint their own chairperson instead of the President doing so. Seconded by Ed Fire
• (Vote: 5 for the amendment, 2 against, 1 abstained)
• Ed Fire moved that the amended Bylaws be submitted to the membership for approval. Seconded by George Lupone. Vote unanimous in favor.
• Ed Fire recommended we devote a meeting to getting people involved in leadership and fund raising.
Next scheduled Steering Committee: July 14th, at 9:30.
Meeting adjourned at 11:20.
Respectfully submitted by Acting Secretary,
Becky Thomas
Meeting called to order at 9:30 by Vice President Sherri Culver
Treasurer’s Report:
None given, treasurer out of town
Membership:
• Maybe 65 paid members. Not definite because we didn’t have the list.
• Calls were made to 30 former members who had paid in 2008. ¼ responded favorably
• Pay Pal has gleaned five membership payments
• Web site needs updating. Nothing has been done since April. Who is responsible?
Advocacy:
• Registration of voters this summer and fall will be done under the NOA group headed by Pearl Livingstone and Norm Robbins
• Senator Voinovich has not yet decided whether to support public funding of elections
• It was decided to abandon the program AnySoldier due to lack of participation
• Becky Thomas will attend the Education committee Tues. June 16th to help plan a forum on Afghanistan/Pakistan/Iraq
Education:
• Volunteer service fair was well supported by organizations (17) but attendance was sparse. Everyone involved worked hard, but we probably shouldn’t do this again. The bake sale brought in $105.
• Three Cups of Tea will be presented on 8/22 at the library
• Those wanting to hear author should car pool for the 26th event downtown
• Cuyahoga Treasurer Jim Rokakis will speak Sat. the 13th at 10 at the library on foreclosures and the land bank
• Fund raiser featuring Bill Rowe with a sample of songs from the play written by Bill Rowe and Shelly Bloomfield will be in Nov. It will include a sale of Bill’s books, CD’s an Kelly’s homemade beer
Health Care:
• Ray DiCarlo and Lynn Rustad will continue sending Action Alerts about health care HB676
• Marcia Fudge declared support for HR 676 after a visit from Ray DiCarlo and others
• TR Reid will talk at Trinity Cathedral on 6/20. Call Judy or Ray to carpool
New Business:Discussion of By Laws
• Judy Kramer moved to amend the proposed Bylaws to say that committees will appoint their own chairperson instead of the President doing so. Seconded by Ed Fire
• (Vote: 5 for the amendment, 2 against, 1 abstained)
• Ed Fire moved that the amended Bylaws be submitted to the membership for approval. Seconded by George Lupone. Vote unanimous in favor.
• Ed Fire recommended we devote a meeting to getting people involved in leadership and fund raising.
Next scheduled Steering Committee: July 14th, at 9:30.
Meeting adjourned at 11:20.
Respectfully submitted by Acting Secretary,
Becky Thomas
Monday, June 1, 2009
May 12, 2009 Steering Committee Minutes
Present: Lynne Rustad, Judy Kramer, Ted Buczek, George Lupone, Sherri Culver, Ed Fire, Lori Zaim
Meeting called to order @ 9:38AM
Minutes: April 14, 2009 approved.
Treasurer’s Report:
• Balance: $3515.85 plus $143.48 (transfer from PayPal): $3659.33 total
• New Members: 5 (paid w/ PayPal) for a total of 47 households or 64 individuals (does not include snail mail members)
Membership Communication Report:
• Current Membership (see above figures)
• Actions taken since last meeting to increase membership:
o Letters sent to former members and those who have never been paid members via email, included PayPal links. Received five PayPal memberships.
o Thank you letters for dues payment sent.
o Membership Committee meeting: Thursday, May 14 to discuss further actions.
Newsletter – proposed articles: Education information, Volunteer Fair, Public Option for health care reform, Employee Free Choice Act (ECFA) - Card check to facilitate union organization), Three Cups of Tea info. It was suggested that the newsletter was not provocative enough and that most people don’t read it. But the monthly presence makes it important. (A lot of work for nothing).
Website domain name transfer: Up in the air. Gary has received no response to phone calls or email requests. Ted said that the new provider should take care of name transfer.
Dot Mac contract: Gary is working on it. It would be preferable to have multiple editors for web site.
Status of AOL Internet access – justification for Patriot ISP We are currently using Ted’s private account to access dial-up Internet in the office. Since it costs Ted nothing extra and he had no objection, we will continue to use it. Computer in office with dialup connection is so slow, it is rarely used. Discussed viability of Verizon’s new personal portable Wi-Fi (My-Fi) at a cost of $100 and 40/month. If one member of Patriots obtains router, it could be used in office for meetings since it supports five laptops.
Education:
• Volunteer Fair Update: Bake sale, possible face painting for $1.00. 18 tables for participants. Drop bake sale items in office Saturday morning 10-12. Ted will bring inflated balloons. Kittens will be available. Volunteers needed for two shifts: 12:30-3 & 3-5:30.
• Other scheduled events: Jennifer Lynch to talk on Afghanistan 5/21, Rokakis to speak at library 6/13, Three Cups of Tea 8/23
Advocacy:
• "AnySoldier" progress: Response has been disappointing. Will send a reminder.
• EFCA (Employee Free Choice Act): - The bill has been rewritten with compromise on issue secret ballots. Discussed LaTourette’s questionable track record.
Health Care:
• Sherrod Brown health care forum: was well-attended and Brown supports public payer option.
• Single-payer option: Discussed the Baucus 8, Code Pink and T.R. Reid who will speak on 6/20 at Trinity Cathedral - $10 admission, possibility of carpooling.
New Business:
• Fundraising: Great ideas were submitted. Since we have no chair of for Development Committee at this point, it was suggested that S/C members take ownership of their own ideas and develop plan to implement.
• Development and Office Management Chairs: Still needed. Spring and Fall cleaning of office suggested.
• Survey to assess member volunteer potential: Interest survey suggested but not sure if members will follow through.
Meeting adjourned @ 11:03AM
Respectfully submitted,
Lori Zaim
Acting Secretary
Meeting called to order @ 9:38AM
Minutes: April 14, 2009 approved.
Treasurer’s Report:
• Balance: $3515.85 plus $143.48 (transfer from PayPal): $3659.33 total
• New Members: 5 (paid w/ PayPal) for a total of 47 households or 64 individuals (does not include snail mail members)
Membership Communication Report:
• Current Membership (see above figures)
• Actions taken since last meeting to increase membership:
o Letters sent to former members and those who have never been paid members via email, included PayPal links. Received five PayPal memberships.
o Thank you letters for dues payment sent.
o Membership Committee meeting: Thursday, May 14 to discuss further actions.
Newsletter – proposed articles: Education information, Volunteer Fair, Public Option for health care reform, Employee Free Choice Act (ECFA) - Card check to facilitate union organization), Three Cups of Tea info. It was suggested that the newsletter was not provocative enough and that most people don’t read it. But the monthly presence makes it important. (A lot of work for nothing).
Website domain name transfer: Up in the air. Gary has received no response to phone calls or email requests. Ted said that the new provider should take care of name transfer.
Dot Mac contract: Gary is working on it. It would be preferable to have multiple editors for web site.
Status of AOL Internet access – justification for Patriot ISP We are currently using Ted’s private account to access dial-up Internet in the office. Since it costs Ted nothing extra and he had no objection, we will continue to use it. Computer in office with dialup connection is so slow, it is rarely used. Discussed viability of Verizon’s new personal portable Wi-Fi (My-Fi) at a cost of $100 and 40/month. If one member of Patriots obtains router, it could be used in office for meetings since it supports five laptops.
Education:
• Volunteer Fair Update: Bake sale, possible face painting for $1.00. 18 tables for participants. Drop bake sale items in office Saturday morning 10-12. Ted will bring inflated balloons. Kittens will be available. Volunteers needed for two shifts: 12:30-3 & 3-5:30.
• Other scheduled events: Jennifer Lynch to talk on Afghanistan 5/21, Rokakis to speak at library 6/13, Three Cups of Tea 8/23
Advocacy:
• "AnySoldier" progress: Response has been disappointing. Will send a reminder.
• EFCA (Employee Free Choice Act): - The bill has been rewritten with compromise on issue secret ballots. Discussed LaTourette’s questionable track record.
Health Care:
• Sherrod Brown health care forum: was well-attended and Brown supports public payer option.
• Single-payer option: Discussed the Baucus 8, Code Pink and T.R. Reid who will speak on 6/20 at Trinity Cathedral - $10 admission, possibility of carpooling.
New Business:
• Fundraising: Great ideas were submitted. Since we have no chair of for Development Committee at this point, it was suggested that S/C members take ownership of their own ideas and develop plan to implement.
• Development and Office Management Chairs: Still needed. Spring and Fall cleaning of office suggested.
• Survey to assess member volunteer potential: Interest survey suggested but not sure if members will follow through.
Meeting adjourned @ 11:03AM
Respectfully submitted,
Lori Zaim
Acting Secretary
Wednesday, April 15, 2009
April 14, 2009 Steering Committee Minutes
Attendance: Lynne Rustad, Judy Kramer, Bill Rowe, Ed Fire, Debbi Thomas, Kathy Kolcaba, George Lupone, Becky Thomas, Ray DiCarlo, Gary Sherck, Sherri Culver
Meeting called to order at 9:30 by President Lynn Rustad.
Approval of Minutes:
• Minutes approved by Judy Kramer, seconded by George Lupone
Treasurer’s Report:
• Lynne Rustad (for Kathy Kolcaba) reported a balance of $3768.30
• Spread sheet for first quarter explained by Gary Sherck until Kathy Kolcaba, Treasurer, arrived
• Possible deficit for year if we don’t get more paid members and use other methods of fund-raising
• Each Steering Committee member is to bring at least one recommendation for fund-raising to next Strategic Planning meeting on April 30.
Membership:
• Report submitted be Lori Zaim in absentia
• 50 paid members thus far. Question was raised about standardizing how memberships are counted, i.e., by individuals (counting each family member) vs. counting “membership” per se. Since there are implications for voting privileges, issue will be discussed further at next meeting.
• Lori Zaim sent out “thank you” messages to all who have contributed
• Dues payment and donations now possible through Pay Pal. George Lupone will send notice of access and instructions via email
• Option of paying dues for two years at same rate, allowing members to avoid rate increases and allowing for better budgeting by committee, was discussed. Decision deferred to next meeting.
Newsletter:
• Articles for newsletter will include a series on unions by Ed Fire
• Lynne Rustad and Ray DiCarlo will address the public option for health care
• Becky Thomas will write up interview with Voinovich’s aide on Fair Elections
Website:
• Now complete, Gary Sherck to get details for automatic redirect from Yahoo and eventual movement of hosting site to a Patriots’ dot Mac account that will allow for more than one web site editor.
• 14 page hits since web site went public April 1st
• Will advertise and explain new website to members through email
Advocacy:
• Anti-war demonstrations have ceased for now
• Ed Fire/Becky Thomas will meet with aide of Voinovich about Fair Elections
• Voted on outreach program anysoldier.com to support military. Moved by Sherri Culver, seconded by Judy Kramer. Becky Thomas and Sherri Culver will plan details of program
Education:
• Schedule in flux through June until confirmation from participants is known
• Volunteer Service Fair may have to be canceled unless there is more participation
• Three Cups of Tea author may make an appearance. Events will be planned around this visit
• President Obama’s policy for Afghanistan should be in place by summer so discussion on policy may be appropriate after book discussion.
Health Care:
• Ray DiCarlo and Lynne Rustad will continue sending Action Alerts about HB676, Medicare for All single-payer plan, and the “public insurance option.’
• Our battle to modify administration’s plan to increase access and control costs will continue
• Ray DiCarlo, Judy Kramer and Lynne Rustad will attend Sherrod Brown’s Health Care Forum on April 17th (10:15 AM , Forest Hill Presbyterian Church, 3031 Monticello Blvd, Cleveland Heights, OH 44118)
Operations:
• Committee hasn’t met and membership and responsibilities unclear. It seems that some committees that were placed under “Operations” in the current by-laws are now free-standing committees (Communications, Membership) while others (Development, Office Operations) have received little attention
• Bylaws need to reflect changes or modifications of this committee
New Business:
• A free-standing Development Committee to handle fund-raising and community outreach was discussed
• Office Operations Committee needs leadership and clarification of responsibilities
• Sherri Culver will circulate by-laws revision to Steering Committee before 4/30 planning meeting
• Next regular Steering Committee meeting is May 12, 9:30
Continuation of Strategic Planning:
• Will meet an additional time a month to finish strategic planning
• Next meeting will be Thurs. 4/30 at 9:30
Meeting adjourned at 11:20.
Respectfully submitted by Acting Secretary,
Becky Thomas
Meeting called to order at 9:30 by President Lynn Rustad.
Approval of Minutes:
• Minutes approved by Judy Kramer, seconded by George Lupone
Treasurer’s Report:
• Lynne Rustad (for Kathy Kolcaba) reported a balance of $3768.30
• Spread sheet for first quarter explained by Gary Sherck until Kathy Kolcaba, Treasurer, arrived
• Possible deficit for year if we don’t get more paid members and use other methods of fund-raising
• Each Steering Committee member is to bring at least one recommendation for fund-raising to next Strategic Planning meeting on April 30.
Membership:
• Report submitted be Lori Zaim in absentia
• 50 paid members thus far. Question was raised about standardizing how memberships are counted, i.e., by individuals (counting each family member) vs. counting “membership” per se. Since there are implications for voting privileges, issue will be discussed further at next meeting.
• Lori Zaim sent out “thank you” messages to all who have contributed
• Dues payment and donations now possible through Pay Pal. George Lupone will send notice of access and instructions via email
• Option of paying dues for two years at same rate, allowing members to avoid rate increases and allowing for better budgeting by committee, was discussed. Decision deferred to next meeting.
Newsletter:
• Articles for newsletter will include a series on unions by Ed Fire
• Lynne Rustad and Ray DiCarlo will address the public option for health care
• Becky Thomas will write up interview with Voinovich’s aide on Fair Elections
Website:
• Now complete, Gary Sherck to get details for automatic redirect from Yahoo and eventual movement of hosting site to a Patriots’ dot Mac account that will allow for more than one web site editor.
• 14 page hits since web site went public April 1st
• Will advertise and explain new website to members through email
Advocacy:
• Anti-war demonstrations have ceased for now
• Ed Fire/Becky Thomas will meet with aide of Voinovich about Fair Elections
• Voted on outreach program anysoldier.com to support military. Moved by Sherri Culver, seconded by Judy Kramer. Becky Thomas and Sherri Culver will plan details of program
Education:
• Schedule in flux through June until confirmation from participants is known
• Volunteer Service Fair may have to be canceled unless there is more participation
• Three Cups of Tea author may make an appearance. Events will be planned around this visit
• President Obama’s policy for Afghanistan should be in place by summer so discussion on policy may be appropriate after book discussion.
Health Care:
• Ray DiCarlo and Lynne Rustad will continue sending Action Alerts about HB676, Medicare for All single-payer plan, and the “public insurance option.’
• Our battle to modify administration’s plan to increase access and control costs will continue
• Ray DiCarlo, Judy Kramer and Lynne Rustad will attend Sherrod Brown’s Health Care Forum on April 17th (10:15 AM , Forest Hill Presbyterian Church, 3031 Monticello Blvd, Cleveland Heights, OH 44118)
Operations:
• Committee hasn’t met and membership and responsibilities unclear. It seems that some committees that were placed under “Operations” in the current by-laws are now free-standing committees (Communications, Membership) while others (Development, Office Operations) have received little attention
• Bylaws need to reflect changes or modifications of this committee
New Business:
• A free-standing Development Committee to handle fund-raising and community outreach was discussed
• Office Operations Committee needs leadership and clarification of responsibilities
• Sherri Culver will circulate by-laws revision to Steering Committee before 4/30 planning meeting
• Next regular Steering Committee meeting is May 12, 9:30
Continuation of Strategic Planning:
• Will meet an additional time a month to finish strategic planning
• Next meeting will be Thurs. 4/30 at 9:30
Meeting adjourned at 11:20.
Respectfully submitted by Acting Secretary,
Becky Thomas
Friday, April 3, 2009
Action Alert: Support a Single-payer Option
From: Thomas Pretlow
Date: March 29, 2009 7:09:29 PM EDT
Subject: Medicare for all
Dear Friends,
It seems likely that we shall get healthcare legislation this year. While I would prefer Medicare for all with no copays and no premiums, I do not think that it is likely that the private insurance companies will lose all of the way (I would prefer not to have private insurance companies). We need to remember that UnitedHealthcare (UNH), one of the largest and most corrupt health insurance sources in our country, donated over a million dollars to support the Democratic National Convention.
Having stated my preference, the best I hope for is that our government will make conventional Medicare available to all as an option for those who do not get something else. I urge you to sign the petition that urges legislation that will make this a possibility for every one. The petition can be found on the web at: www.StandwithDrDean.com.
Let's hope that this makes healthcare available to everyone either immediately or in the not-too-distant future.
Tom
Thomas G. Pretlow, M.D.
Professor in the Departments of Pathology, Urology, Oncology, and Environmental Health Sciences
Case Western Reserve University School of Medicine*
(telephone: 216-368-8701; e-mail: tgp3@cwru.edu)
*Nothing in my communication represents Case Western Reserve.
Date: March 29, 2009 7:09:29 PM EDT
Subject: Medicare for all
Dear Friends,
It seems likely that we shall get healthcare legislation this year. While I would prefer Medicare for all with no copays and no premiums, I do not think that it is likely that the private insurance companies will lose all of the way (I would prefer not to have private insurance companies). We need to remember that UnitedHealthcare (UNH), one of the largest and most corrupt health insurance sources in our country, donated over a million dollars to support the Democratic National Convention.
Having stated my preference, the best I hope for is that our government will make conventional Medicare available to all as an option for those who do not get something else. I urge you to sign the petition that urges legislation that will make this a possibility for every one. The petition can be found on the web at: www.StandwithDrDean.com.
Let's hope that this makes healthcare available to everyone either immediately or in the not-too-distant future.
Tom
Thomas G. Pretlow, M.D.
Professor in the Departments of Pathology, Urology, Oncology, and Environmental Health Sciences
Case Western Reserve University School of Medicine*
(telephone: 216-368-8701; e-mail: tgp3@cwru.edu)
*Nothing in my communication represents Case Western Reserve.
Monday, March 23, 2009
Action: Securities Trading
Immediate action must be taken on three issues related to security trading on our domestic markets and on shares of our domestic companies trading on foreign exchanges or bourses to prevent market manipulations by investment pools that may be operating in concert or alone to manipulate markets. Specifically they are:
The so-called uptick rule, established in 1938 but repealed by the Securities and Exchange Commission on July 6, 2007 had required traders to wait for a stock’s price to make an upward move before it could be sold short.
Short selling is a trading strategy designed to profit from a stock’s downward movement. It involves borrowing shares from a brokerage firm, then immediately selling them and waiting for the stock price to decline before buying the shares back at a lower price and returning them to the brokerage lender.
"Naked shorting" is technique whereby institutions and investment pools may represent that they will deliver stock by settlement date(3days) when indeed they do not have access to the shares they have sold..
Shorting by itself provides useful balance to the investment markets as speculation by the short operators can be enormously profitable and oftentimes provides analysis and protection against the frauds perpetrated by the Enron’s, World Com’s and AIG’s of the world and the misrepresentations perpetrated by the dishonest managements of these companies.. However when speculation leads to stock price manipulation certain safeguards must be instituted. Due to the development of arcane derivatives and computer generated trading, it is more important than ever to be vigilant.
Please contact your elected officials and tell them to:
Hank Spain
I. Reinstate the uptick rule immediately and require foreign exchanges to follow these rules with domestic securities If the foreign burses do not comply de-list all domestic stocks from those exchanges.
II. Outlaw "Naked Shorting" and punish violators by levying severe penalties, disgorging all profits from illegal transactions and possible suspensions from trading against all participants including broker dealers, exchanges and fund managers.
III. Require volume equivocation on short sales to prevent "painting the Tape" which is an illegal form of manipulation whereby the market participants buy a few shares to "create" an uptick and then short massive volumes. Whereby, if IBM for example, had cumulative upticks of 15000 shares that would be the maximum no of short sales that could be made until the next uptick. Also the uptick change in market price should be the greater of $.05 per share or .075% of share price. This is in response to the elimination of fractionalization and the implementation of decimalization of pricing mechanisms.
The so-called uptick rule, established in 1938 but repealed by the Securities and Exchange Commission on July 6, 2007 had required traders to wait for a stock’s price to make an upward move before it could be sold short.
Short selling is a trading strategy designed to profit from a stock’s downward movement. It involves borrowing shares from a brokerage firm, then immediately selling them and waiting for the stock price to decline before buying the shares back at a lower price and returning them to the brokerage lender.
"Naked shorting" is technique whereby institutions and investment pools may represent that they will deliver stock by settlement date(3days) when indeed they do not have access to the shares they have sold..
Shorting by itself provides useful balance to the investment markets as speculation by the short operators can be enormously profitable and oftentimes provides analysis and protection against the frauds perpetrated by the Enron’s, World Com’s and AIG’s of the world and the misrepresentations perpetrated by the dishonest managements of these companies.. However when speculation leads to stock price manipulation certain safeguards must be instituted. Due to the development of arcane derivatives and computer generated trading, it is more important than ever to be vigilant.
Please contact your elected officials and tell them to:
1) Reinstate the uptick rule immediately and require foreign exchanges to follow these rules with domestic securities.
2) Outlaw "Naked Shorting" and punish violators by levying severe penalties.
3) Require volume equivocation on short sales to prevent "painting the Tape" which is an illegal form of manipulation.
White House
Senator Voinovich
Senator Brown
Congressman LaTourette
Hank Spain
Sunday, March 15, 2009
RIP the Conservative Revolution
On a recent visit to Boston, and with time on my hands, I visited Quincy Market, Faneuil Hall and the Old State House. It was here that our nation was forged, was created as Margaret Thatcher said "by philosophy". An idea, bold and noble shaped a new kind of nation that would grow up to be America. Patriots here lit the spark, took the risks, shaped the debate and began the fight that led to the Declaration of Independence and Constitution.
We've had our ups and downs - but mostly triumph, often at great sacrifice. Our fathers and grandfathers saved the world from a dark and powerful tyranny. Now we seem about to squander it all.
Adults often make self-assessments; honest appraisals to reset our compass. Our country needs a serious reassessment - not by the bickering political class, not by the craven punditry that dominates our flaccid media. By the citizens. Now.
Serious adults, even if they want smaller government, do not hold government in contempt. The need for political structure has been recognized throughout history as essential. Only the adolescents who seized the great edifice of our founders hold it in contempt, and look at the result: gridlocked Congress, Katrina, preemptive war, US Attorney mess, FISA violations, etc. We have even tortured people. Worst of all, we have factionalism, that which many of our founders regarded as the greatest threat to their new system of government.
We lack the will and cooperative spirit to do the real work of government. Bridges are not built across the broad, ideologically imposed divide. Government for too long has been hijacked by a bunch of adolescents riding the curve of their economic mythology. We have a mountain of debt that hobbles our ability to deal with real challenges. Their absolute belief that markets will behave rationally to right themselves has been exposed as a fraud. At least 2 examples: mortgage products that even promoters didn't understand and the recent panic in stock markets. How ironic the stampede to get taxpayer help to bail them out.
Maybe now we'll have some long overdue outrage. Does it have to hit our pocketbooks before we stop the squandering of our great inheritance? Lots of people have gotten rich, and, let's be honest, a lot of middle class people benefited from low rates and rising home values. But our savings rate is zero and our national debt is $10 trillion. The cost is too great, now the piper wants his payment.
The neocons who hijacked the great conservative tradition have gotten it all wrong. Time for accountability, one of their incessant mantras. David Brooks, an estimable conservative, pronounced the Reagan revolution dead. Good riddance.
Time to banish them from influence over our institutions. Shake up the political class. Shun the pundits. Let's get back on track and send the adolescent worshippers of the disastrous, discredited fiscal policies into exile. As Sam Adams said, " If you love wealth more than liberty ... go home from us in peace. May posterity forget that you were our countrymen".
Pat Moore
We've had our ups and downs - but mostly triumph, often at great sacrifice. Our fathers and grandfathers saved the world from a dark and powerful tyranny. Now we seem about to squander it all.
Adults often make self-assessments; honest appraisals to reset our compass. Our country needs a serious reassessment - not by the bickering political class, not by the craven punditry that dominates our flaccid media. By the citizens. Now.
Serious adults, even if they want smaller government, do not hold government in contempt. The need for political structure has been recognized throughout history as essential. Only the adolescents who seized the great edifice of our founders hold it in contempt, and look at the result: gridlocked Congress, Katrina, preemptive war, US Attorney mess, FISA violations, etc. We have even tortured people. Worst of all, we have factionalism, that which many of our founders regarded as the greatest threat to their new system of government.
We lack the will and cooperative spirit to do the real work of government. Bridges are not built across the broad, ideologically imposed divide. Government for too long has been hijacked by a bunch of adolescents riding the curve of their economic mythology. We have a mountain of debt that hobbles our ability to deal with real challenges. Their absolute belief that markets will behave rationally to right themselves has been exposed as a fraud. At least 2 examples: mortgage products that even promoters didn't understand and the recent panic in stock markets. How ironic the stampede to get taxpayer help to bail them out.
Maybe now we'll have some long overdue outrage. Does it have to hit our pocketbooks before we stop the squandering of our great inheritance? Lots of people have gotten rich, and, let's be honest, a lot of middle class people benefited from low rates and rising home values. But our savings rate is zero and our national debt is $10 trillion. The cost is too great, now the piper wants his payment.
The neocons who hijacked the great conservative tradition have gotten it all wrong. Time for accountability, one of their incessant mantras. David Brooks, an estimable conservative, pronounced the Reagan revolution dead. Good riddance.
Time to banish them from influence over our institutions. Shake up the political class. Shun the pundits. Let's get back on track and send the adolescent worshippers of the disastrous, discredited fiscal policies into exile. As Sam Adams said, " If you love wealth more than liberty ... go home from us in peace. May posterity forget that you were our countrymen".
Pat Moore