May 4, 2009
I support the reinstatement of limits on short selling. I'm a retired Cmmercial Banker with 37 years within the industry and a small investor. I didn't take time to read all 273 pages associated with your proposal. However, you don't have to be a professor to understand that shorting stocks is gambling and "naked shorts" is pure speculation. If you're willing to gamble that something/someone is going to have problems, you'll use devious means to insure that you hedge your bet to achieve the desires outcome. Without restrictions on your actions, and resources to effect the outcome, companies and small investors are "pawns" for large players who want to manipulate stocks.
It's difficult to engender confidence in the market under those circumstances It also places scrupulous managers at a decided disadvantage in this environment.
Help level the playing field.
Thanks