February 28, 2009
Would like the SEC to reinstate the uptick rule and ensure that naked shorting does not occur. Enforce the naked shorting rule. The rule is meaningless unless enforced.
In addition, suspension of the mark to market rule for banks with toxic assets should be seriously considered. Perhaps, a phased recognition of the losses should occur i.e. recognize 10% of the losses per year until the toxic assets are valued at FMV. Banks would be precluded from paying bonuses to their top people until the toxic assets were all valued at FMV. That would prevent taxpayers from taking a ride.