May 22, 2009
I ask you to consider this petition that seeks to abolish ALL shorting.
You should not ignore it because it has only a few signatures (thus far) but I know you will anyway. Do so at your peril as already, I understand forces are at work to gut the SEC (see link below). This effort/ sentiment, if you ignore it now, will return to bite you on the next unavoidable downturn, ie when folks get much angrier.
I/we regard restoration of the uptick rule as a smokescreen that allows the pillaging to continue, including naked shorting (which cannot be separated out). The entire concept of shorting, largely unknown to the public is based upon completely fraudulent and immoral and opaque mechanisms and upon shameful obfuscation by your industry of the realities and duplications involved.
For a better appreciation of why I/we feel this way, please visit:
link per above
and follow link in the message to original article