May 5, 2009
I believe that the lack of the uptick rule was the single biggest demise in Lehman Brothers. I believe that upon investigation the SEC will find that there was a concerted effort (or in fact collusion) by the short sellers to destroy the company. The did the same to Bear Stearns. The next to go would have been Morgan Stanley if the government had not stepped in - Goldman Sachs would have quickly followed. The shorts were gunning for the company taking the stock down to the mid 6$ range.
This abuse is no secret to anyone active in the markets. The only people this seems to be a surprise to is the regulators.
It is your responsibility to assure the safe trading of the markets.