May 5, 2009
A part of the US economic collapse can be attributable to the vultures who have taken advantage of the laxing of short selling restrictions. Over the past few years it seems that the SEC has had a laisse-faire attitude towards governance and protecting in large part investors. As a matter of fact it seems like they have been on the side of greed and might I say screwing the public.
It is time that the SEC start acting and protecting the majority of investors. Restored confidence in investing is important to re-balancing the economy and restoring American confidence.
It is time to bring back the uptick rule based on the last uptick and quite frankly I do not see any benefit on short selling period. To allow someone to borrow stock that is not owned by them is ridiculous and just goes to show how corrupt and unethical our system is, and how the system is designed to screw the investor as opposed to the vulture or the minions of Wall Street.