July 15, 2008
Please reinstall the Uptick Rule. Please stop insanity and the greedy sharks destroying shareholders wealth and hard working American companies. This total destruction of wealth is Anti-American. You are deliberately allowing our country to become poor and week by endorsing behavior that rewards greedy shorts and punishes long-term investors.
You are also jeopardizing national security of the country by not having an uptick rule and more stringent controls on shorts in both stocks and futures (like oil). This is like a game of pocker where the one with most money wins. and is allowed eventually to drive any companies in the distress into the ground. You do not continuously kick someone who is already lying on the floor and bleeding. Today it is our banks now and who knows what is next...
There was a reason why the uptick rule was put in the first place after the great depression.
At least reinstall it for 2 months and see the difference it makes.