May 4, 2009
SEC: Restoration of the uptick rule and elimination of ALL NAKED SHORT SELLING MUST be implemented ASAP. IF the public is ever to trust the SEC and credibility of the institution is to ever be restored, this is an ABSOLUTE MUST. Also, transparency is critical to SEC credibility. This means that all failed transactions MUST be made public and available for analysis and verification. The general investor is becoming more and more responsible for his/her own retirement. Fairness in the marketplace is crucial if these people are going to have a chance to succeeding. Furthermore, businesses that go public need a fair chance to succeed and get established. I have read too much about potentially great businesses having been shorted out of business. How should it ever be possible to sell more shares than exist in a business? How should it ever be possible to short a stock without borrowing it first?
SEC... Do the right thing