February 13, 2009
SEC - To whom it may concern:
I would strongly suggest that short selling and double short ETF's be halted and banned from the market. Short selling was halted in Sept 2008, the questions begs, if something then perceived as harmful for the markets was stopped, why is it then reinstated Former SEC head Chris Cox removed the uptick rule in 2007 which enables short sell orders to piled on without any relief to the stock that is being targeted. This rule should and must be reinstated. The result in allowing these practices to continue will further degrade our economy and it distresses me that nothing has been said or done about the above since Mary Schapiro was appointed. Perhaps she is having some difficulty seeing the obvious as was the case when she looked at Bernie Madoff? I hope not. If this country really wants transparancy in the way business is conducted, the SEC should act swiftly.
James Osswald