April 3, 2008
S7-08-08 Short Selling
I have been investing for 30 years. Each year I have managed to secure gains in my goal to build a retirement account. Since the change in the uptick rule in July 2007 and the onslaught of naked short selling attacks on small cap stocks I have suffered a $100,000 loss to date. I can no longer compete with the deep pockets of funds all over the world that are determined to sell more phantom shares than individual investors are willing to buy irregardless of fundumentals. The collusion is crystal clear and aimed at intentionally draining americas accounts. I believe that whoever is orchastrating these attacks never intends on settling their accounts and instead will walk away from these obligations with our hard earned money. Please do something. Please at least reinstate the uptick rule before it is too late. Rich Berges