May 4, 2009
I am an average investor using the stock market as a vehicle for retirement. I have seen my retirement account fail miserably due to the greed and market manipulation of the so called professionals. I made the decision over a year ago to move my money out of the stock market into simple savings accounts and CD's. The SEC under the Bush administation was asleep at the wheel. More specifically the former SEC leader Christopher Cox was asleep at the wheel. I will not even consider investing again until something is done to restore the uptick rule, get rid of the ultra short funds and close the loopholes that let the short sellers use every trick in the book while the SEC turned a blind eye. If you want average Joe back in the stock martket, then level the playing field. My guess is that the SEC doesn't have the guts to admit it has made major mistakes and needs to go back and get rid of the deregulation that put us in this mess to begin with.