May 5, 2009
It is necessary to reinstate the uptick rule that was eliminated in 2007 if we are to have any stability in the market. By eliminating this rule and not enforcing laws against naked short selling, the SEC has allowed the shorts and hedge funds to rob the American people of their retirement funds, college funds for their kids, and their hard earned money. The upstick rule, if any changes are to be made, should be more strict against short sellers.