December 11, 2009
Loss of the Uptick rule is causing hurt to ordinary investors who are trying to recoup losses on 401K's and loss of jobs. The 'big boys' should not be the only ones allowed to make money, or is ther American way, the American dream re-written against the common man? Naked shorting is a destructive practice toward companies and investors alike. In 2001, terrorists tried to level our economy and stole the lives of innocent citizens. That day is marked by great natioanl sorrow. Will we allow naked shorting to bring down the financial system, where terrorists failed? Bring back the Uptick rule, and enforce laws against naked shorting. It is the just and right thing to do.
I prefer the first proposal, regulation on this must be tight but some form of protection has to be reinstated. Those who oppose the Uptick Rule are likely those who are raping the US market, and being unjustly rewarded by it.