May 20, 2009
I,m not aware of anyone in my profession that is informing their clients of the mess we are in caused by abusive short sell of stocks. There seems to be some denial of what has happened since the uptick rule was discontinued Sept.07 or ignorance. You're requesting publc input, but the public has no clue what is going on. They never heard of the uptick rule, they don't understand short sell of stocks, their busy with life, but do participate in deferred comp plans and many rely on defined benefit plans that are heavy into corp. stocks. Please reinstate the uptick rule and I ask you to put back the one that is the most restrictive, which as I read it is the one suggested by the national exchanges. The Modified uptick rule. We will drop into the abyss if you don't. Hope I'm wrong. This is a risk we don't have to take. Thanks
JP