May 4, 2009
I do not need pages to state what you should know already.
Reinstate the uptick rule today. The most restrictive is the best and the one you should have already put in place.
It is apparent that the past SEC officers just fail to do the job they were intrusted to do. They did such a bad job it is more likely their actions were criminal.
Add this rule as soon as possible - "A market-wide short sale price test based on the last sale price or tick."
Add this rule today - "Impose a short sale price test based on the last sale price in a particular security for the remainder of the day if there is a severe decline in price in that security."
Also, do your job - do not allow short sales without the stocks to back it up.