May 8, 2009
To Whom It May Concern,
In recent months I have lost approximately 50% of my 401K and IRA balances. These holdings are all in well established and respected mutual funds and not in speculative stocks. It is my belief that the recent stock market decline has been severely exacerbated by the removal of the uptick rule, the illegal use of naked short selling, which for some reason has not been prosecuted at this point, and speculative use of levered short sided ETF's to remove liquidity from the market. I am wholeheartedly behind the move to reinstate the uptick rule in full, and would see a move to use "best bid" or "circuit breaker" tests as falling far short of what is required to bring fairness back to the stock market. Thank you for your time and consideration in this matter.
Sincerely yours,
Neil Davies