September 21, 2010
It is difficult to believe that any individual investor would not support eliminating short sales. It is laudable that comments are being solicited. But a question remains as to whether the comments of individual investors will have any effect. What will be the effect of comments, if any????
History supports a view that the SEC, like government in general, responds to special interests having significantly larger monetary power than the great majority of individual investors. Allowing large trading firms to use computers to have greater access to market information and allowing them to make large trades at microsecond intervals was not done for the benefit of individual investors. And the allowing of May 6th trades at 60% loss to investors and 60% gain to trading firms was not done for the benefit of individual investors.
Just how many individual investors even know about the way to submit a comment is an additional question. It was incredibly difficult to find the page for the submission of comments after the initial stumbling upon it.