May 4, 2009
I support returning to the uptick rule as it existed prior to 2007. This choice will be seen as too restrictive by the financial services industry, but in fact served our nation well for 70 years. There is no need to re-invent the wheel in 60 days here. If a revised uptick rule is appropriate in the long view, let's analyze it over the next year or two and then modify. For now, it will do our nation good for average investors to have confidence that the pre-2007 disciplines are in place, even if some short sellers are disappointed in their incomes going forward.