Representatives of the Office of the President call Retired Postal Worker
In late 2008, newly retired from the U.S. Postal Service, but still determined to put his daughter through college Richard Keane, Jr. decided to take his chances in the stock market. While he didn't lose his shirt, he felt buffeted by the wild gyrations of the market and out-gunned by high tech traders exploiting flash trading and naked short selling. Naked short selllng is the act of selling a stock without ever actually owning it; thus saturating the market with "phantom" shares.
Teaming up with the producers of the financial film "Stock Shock" which attempts to expose the unfair advantages of some stock traders, Richard narrated the movie and then began reaching out to government agencies asking for more regulation on Wall Street. "I sent out over 50 letters many DVDs to the news media and government officials demanding the truth be told," he says.
Richard sent his letter to President Obama, but never expected a call back. "I got the phone call from the office of the President of the United States saying they received my fax about stock market corruption,"
Mary Schapiro, the head of the Securities and Exchange Commission said the office will investigate controls on "naked" short selling which "potentially"
Film producers of "Stock Shock-The Short Selling of the American Dream" expect little to change, but its narrator, Richard, has high hopes. "I never thought in my wildest dreams I would be in a Hollywood movie telling the world about stock market corruption,"
Director, Sandra Mohr says she made the movie to empower small investors and give them a voice.
To view "Stock Shock" buy the DVD at Amazon.com or www.stockshockmovie.com.
Photo:
http://www.prlog.org/
