Febraury 13, 2009
There is a persistent feeling among small investors, myself included, that short sellers are collaborating and significantly influencing and manipulating the markets. To that end I urge the SEC to reinstate the uptick rule, rigorously enforce the prohibition against naked shorts, and eliminate the ultrashort ETF's in order to level the playing field. If the SEC is to put some trust back in the system it really needs to undue the damage done under former Secretary Cox and take all actions necessary to LEVEL THE PLAYING FIELD. It also needs to publicize these actions and let the public know that the SEC is once again actively working to regulate the financial markets. Please, we can't have more of the do nothing "free market capitalism" run amok administration that we received under Secretary Cox and President Bush.
THANKS.