February 20, 2009
Dear Chairman Mary Schapiro,
Bring the uptick rule back now. Today Citicorp, Bank of America, and all other banks are taking a hug hit that is being accelerated by short sellers. How many of them are naked short sellers. I was Meredith Whitney on cnbc yesterday recommend shorting citi B of A and Wells to make huge profits. How can the SEC allow this market to be manipulated. The insurance stocks are also being targeted. They are down 45% in less then 2 months. While the President is trying to stabilize things why are you NOT giving him support.
Stop this endless unnecessary ravage on all accounts. GM just hit a lower low than in 1938. The five commissioners need to find a TV. It is time to protect 201K, IRA, Pension accounts that have lost 50 to 60 percent. What are you waiting for ? ? Please answer this with a personal response? Are you listening? The shorts must have boat loads of money, how unamerican. This is sad ? SEC has caused a 15 trillion loss. Uptick rule NOW!!!!!!
Sincerely
Thomas D. Link