August 18, 2009
Please bring back the up tick rule. Too much has changed for it not to be in place, (sovereign funds, hedge funds, mutual funds etc) all potentially on the short side. Destruction of capital has become too easy once a fund reaches a certain mass.
Additionally please increasing the penalty for naked shorting and enhance enforcement. If there is a non-delivery pattern then there is a problem. The market is being manipulated. It appears to be too easy to continuously naked short.
I am a very small investor trying to help my family and over the past couple of years have been in what I would consider to be a nightmare of neglect and abuse.
Thank you for your time and the opportunity to speak out.