May 4, 2009
I know just as sure as the sun rises in the east that I have had serious loses in the past year that were hugely magnified by short-selling machines that often overwhelmed any idea of an efficient market.
You must institute drastic curbs on these vultures (and their bad-news rumor mongers) that make a mockery of trading stocks for average investors.
Please: institute severe limits on their access to short trades, not only the old uptick rule but more drastic measures. What about combining it with a 24- or 48-hour hold rule, enforced by all brokers? What about severe penalties for any broker that assists a naked short, and put some teeth in the market cops? What about banning the ultra-short ETFs forever, who can't possibly comply with any realistic rules (we don't need these engines of doom, period ).