February 24, 2009
Dear Chairman Mary Schapiro:
I have a major concern with the new SEC chair. For over a year we have watched the "bear" chew up the stock market because of lack of reinforcing of the uptick rule and the ETF short fund SKF that has decimated the financial sector.
As you know, the same scenario prevailed in 1929 and the early 30's and security rules were put in place to stop the bear onslaught. What are we going to do about this? It's no secret and the wisdom of many market experts and economists have said this has to change.
When is it going to happen?
Regards, Lee Sucharda Jr.