May 9, 2009
To the Members of SEC,
I hope that you come to the conclusion to reinstate the uptick rule and enforce the rules of naked short selling. My comment here is short, but to a point that I think is not mentioned enough: there is a big difference in the fear of loosing something you already have and the fear of loosing something you may hope to have. Most Americans are optimists and if we miss an opportunity to make a gain, we then say we learned a little and will do better tomorrow. But if we worked hard for what we have, and financial "experts" yell, "Fire", then a much stronger fear to get out becomes overriding. From psychology 101: It is much easier to impact something with a negative thought, than with a positive one.
"Don't leave things as-is. Make it harder for big money and hedge funds to instill fear and drive companies and markets down"
Wayne Wilcox