May 4, 2009
It is essential to re-instate the uptick rule. Neither the modified uptick rule nor an equity specific rule based on a large drop in stock price would be adequate. It was obvious last year that short sellers were piling on one bank and brokerage after another making a bad situation much worse. The uptick rule is nessary to help maintain market stability and ensure that small investors are treated fairly in the market. Let's re-instate the rule that did it's job so well for about 70 years.