May 5, 2009
May 5, 2009
Chairman Mary L. Schapiro
Securities and Exchange Commission
As we carry the torch for democracy and free markets around the world, we should be an example to the world of efficient, well regulated markets. Instead we have an embarrassment of manipulation and rule avoidance. Worse yet, it goes on in plain sight with full knowledge of all closely involved in the markets. If the SEC continues to allow blatant abuse of its rules, then I question its purpose.
Please reinstate some form of permanent uptick rule and ban naked short selling. Then dont be blind to how the ultra short ETFs are destructive and circumvent margin requirements.
Sincerely,
Mark Browder
Private Investor