May 5, 2009
I am a retired salaried employee of General Motors. My retirement income depends greatly upon my pension and IRA rolled over from 401K plan.
I feel that the recent decline in performance of the stock market greatly jeopardizes my retirement income and has put my retirement at risk. I feel this is in large part due to the relaxation of the uptick rule which historically has protected against the abuses of short selling.
I am in faver of reinstating the Proposed Uptick Rule: A market-wide short sale price test based on the last sale price or tick (a proposed uptick rule).
Sincerely, Thomas Johnson