May 4, 2009
I've been a licensed broker for more than 23 years. I couldn't believe the day on CNBC that they said today will be the first day of trading without the up-tick rule. I had not heard that the SEC was considering such a move. My professional view is that the removal of the rule gave the right to steal, to all investors. The problem is that not all investors have the knowledge to understand. Over the last 8 months, I weekly wrote chairman Cox begging him to reinstate the up-tick rule. Changing the rule is rather simple. Many ( short sellers ) say the rule is out dated and has no affect on things. So simply re-instate teh rule as it really dosn't affect anyone.... Don't buy the BS this rule change almost caused the colapse of our financial system. Please don't allow them to bribe there way thru this. Do your job protect the investing public. Leon Scheffler