February 1, 2009
Dear Chairman Mary Schapiro,
The previous administration cancelled the uptick rule. This has allowed some to benefit from the financial disarray and has allowed these large players to pummel prices through stops, drive prices down, and benefit greatly. Had the uptick rule been maintained the market would not have suffered as much as it has, and volatilities would not have been as extreme.
Please reinstate the uptick rule.
Kind regards
Ron Singer