May 6, 2009
My 5, 2009
To Chair Schapiro, S.E.C.:
Please, please restore the uptick rule. I have been an investor for over 25 years. Taking away the uptick rule in 2007 is ruining the market. It allows short sellers to manipulate the market and their actions are on MSNBC every day, for all to view. It got out of market because of this rule being removed. I would like to get back into the market but not while it is being so heavily manipulated. I am an individual investor, age 64, with no agenda other than reducing risk by the short sellers' manipulations. This solution is actually a no-brainer (I know you are very intelligent). However, I know this will be a political decision, based on pressure from those interested in continuing these practices.
Please do the right thing by restoring the uptick rule.
Thank you,
Maureen Beardsley