May 30, 2009
Please re-instate the uptick rule for short selling that was instituted during the last Great Depression. Without it, it is far too easy for hedge funds or other large financial traders (think even our foreign enemies) to bring good companies to their knees.
Cox was totally mistaken in taking this rule out of the market.
If the Obama administration wants to be seen as a positive influence in controlling the market and protecting smaller traders and companies from this heidius legacy of the Bush administration, please reinstate this vital rule to help keep our capital producing markets under control.
We have led the world in producing a standard of living unmatched in history. Support the vital means that have brought this about. Support the reinstatement of the uptick rule to control short selling.
A. Nowak