June 5, 2009
I would really like to see the uptick rule reinstated. I'm very upset with the previous administration run under Mr Coxx. His decision to remove the rule I believe ultimately encouraged the capital destruction of the markets in the past year. I love the free market, but like anything where greed is involved, it needs rules.
I am 18 years old, and in 2008 My state mutual fund lost over 4,000 of my college savings in 4 months. My sister lost 1/3 of her college money in the events. I realize that this isn't anything. Not even a blip on the radar, but I am now at a community college while the funding can recover. Do not value the hedge fund managers over people like me. It is inherently American to do so, and it has cost a lot of people a lot of money. Do not mislead yourself, this rule was removed so that HEDGE FUNDS could short stocks into oblivion and get rich doing so. Please change it back.
Thank You
Owen Hyde