April 21, 2009
It occurs to me that, before any new inititives are attempted, the SEC should first try to figure out why it has failed so miserably to protect individual investors over the years.
Quite frankly, if you issued SEC stock, it would be shorted to nothing post haste - uptick rule or not.
If instituted, this will simply put retail investors at more of a disadvantage. Institutional investors will find a way around this nonsense.
The market is smarter than all of this anyway. Understand that the market is telling you that banks (often mentioned in this discussion) ARE worthless as a result of the decisions THEY made.
Businesses that make bad decisions SHOULD NOT EXIST.
Do you really think a well-run company with real value even could be shorted out of business? Investors would be there immediately to snap it up. Allow the market to determine the value of businesses and ENFORCE existing rules regarding manipulation and EGREGIOUS nonsense.