March 30, 2009
I am a taxpayer and mutual fund holder in Dallas, TX
I have studied the Uptick Rule and feel it could be a contributing reason the stock market was driven down to such a low level because it made easier to make a profit from short selling, as it was very easy to know that the market was in a downward spiral and to short sell, especially when investor panic set in. The absence of the rule enabled short sellers to get in the down market and drive it down further.
I would ask that the Uptick Rule be reinstated immediately.
Do not accept a modified version from Wall Street. The proclaim it was not important and not responsible for the decline in the market. If not, why are they pushing for a modified version
Roger Parks