September 30, 2009
I suggest that if you are to intervene in the markets you should also institute a DOWNTICK rule no stock can be purchased unless it goes down a tick. This way you could really CONTROL the markets. There is no validity to 'the removal of the uptick rule' as causation for the demise of our financial system. It was a function of a failed business model where the customers, business partners and governments own personal excessive greed brought the country to the abyss of financial destruction. The 10 year party of 'ownership' came to a crushing end when we found that no one owned anything but the debt for things which they could no longer service. Instituting an uptick rule does not bring reality to the markets it is only the severe devastation that has taught some of 'US' the harsh realities of financial life. In the end we have only ourselves to blame for our personal greed and lavish ways which led to the current state of affairs. No 'Uptick nor Downtick' rule is going to save us. Don't meddle let the markets do what they do best - mitigate the excesses of both selling and buying.
A common Citizen of the USA