May 29, 2009
I am 100 % in agreement with Mr. James Cramer that you seriously consider his proposal for re-instating a new and inproved version of the up-tick rule. The World Investment Community deserves a new regulation that can put a stop to the blatent short and naked-short attacks on various companies. The SEC did nothing as we all watched in horror as our Financial Institutions were decimated by a group of deep pocketed investors who clearly were hell-bent on destoying our banking system in order to legally make easy money as a result of the sub-prime mortgage fiasco.
This can never be allowed to happen again and we all expect to see some indictments in the future as there has to be a money/trade record that clearly demonstrates that there were illegal trades taking place in a concerted effort to gap certain stocks downward.
Respectfully Submitted:
Mark R Butterfield C.A.G.S.