May 4, 2009
As a small investor I have been devastated by the short sellers. I want to believe that as an investor I should be buying interest in businesses that are sucessful rather than betting on their failure. I have written letters to my congress representatives and asked that the SEC be disbanded in that I feel that larger investors have controlled the poor decisions being made by this government body. The up-tick rule should never have been done away with and the idiots who looked at only 2005 history to make this decision should be fired. Naked short selling rules need to be enforced without excuse by the employees of this agency. I really don't feel that the culture of this agency can be changed and that another existing government regulating agency should assume the duties and enforce the rules. I'm nobody's buddy but I do pay my taxes that pay your salaries.