May 10, 2009
I strongly urge and support the application of rigid prohibitions on short selling by requiring implementation of the formerly sensible, fair and extrememly effective "uptick rule", without which securities markets are and have been manipulated for the sole purpose of profiteering by a small segment of the securities industry.
All other investors have suffered greatly as a result of unlimited short selling practices, which effectively result in a free fall of securities prices, not solely limited to just those securities that are sold short.
Those short term, manipulative trading tactics serve no useful purpose and must be controlled, which has been proven over the decades when the uptick rule was in effect.
The Commission must take responsible, prudent measures to bing back and re-implement the uptick rule - NOW
Dan Calabria