May 4, 2009
The SEC made a grave mistake in 2007 by removing the uptick rule. Restore the uptick rule as it was before it was repealed in 2007. It worked well for over 70 years.
- Reinstate the uptick rule as it was in 2007.
- Start enforcing the naked shorting law.
- Get rid of the ETFs which are allowed to short markets by 1X, 2X and 3X.
The SEC has done a great disservice to the retail investor the last few years. Stop listening to the academics and hedge funds and start looking out for the retail investor.