Tell Us About the Firm or Individual You Have a Complaint Against
Subject type: Firm
Name : Federal Reserve Bank
Type : Federal Government Agency
Nature of complaint: Manipulation of Security Price/Volume
Type of Security: Equity Security (general)
Security Symbol : SRS
How you Learned about the Transaction or other Activity:
It's not at all hard to see the blatant manipulation in this ETF
* Details About the Transactions or other Activity:
If you'll take a look at the chart below (link provided) you will see that the price of this ETF is OBVIOUSLY being manipulated by the United States government and/or the Federal Reserve bank of the United States of America.
It is my personal opinion that the government / Federal Reserve, at the time, was desperately looking for ways in which to crush the life out of market shorts..
This particular ETF (SRS ProShares UltraShort Real Estate ETF (NYSE ARCA)) traded around a split adjusted price of 400.00 per share in the fall of 2006, the height of the real estate bubble. During the panic in the fall of 2008 it hit a split adjusted price of nearly 1,500.00 per share.
It trades today (09/08/2010) about 21.50 per share..
I can't imagine that ANYONE could look at this 4 year chart with monthly candles and NOT see price / volume manipulation..
Relevant Internet Addresses:
Any Additional Information
Use this area to add any additional information that you wish:
IF investors cannot trust even our own governmental institutions to be honest and fair then where are they to turn for assistance of any kind?
Admittedly this complaint is somewhat tounge in cheek because obviously the SEC is not about to investigate the United States government and/or the Federal Reserve Bank..
However.. therein lies the problem.. You will NEVER be able to restore investor/consumer confidence in any part of this ponzi market or ponzi economy as a whole as long as the federal government is heavily manipulating same..
I have no hard proof for you.. LOOK and you will see.. But I'm sure you already are well aware of all the market / economic manipulation being undertaken by the United States government, the Federal Reserve Bank, The FHA, the the SEC, Fannie Mae, Freddie Mac, on and on..
YOU are helping to destroy ALL confidence in government / finance as a whole.
I will be publishing the content of this complaint and will look forward to your cooperation and findings in this matter..
Gregory S. Phillips
This was my exit page on the SEC site after submission..
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