May 4, 2009
I believe that the current situation - no uptick rule and no enforcement of naked short prohibition - has done a great deal of damage to the market in general and to my portfolio specificly. You should not over think the current situation and try to concoct a complex solution when the proposed uptick rule seems to take us back to the "status quo ante". Whether or not this is the best solution should not be the question rather it should be will it work. Since it was in place for 70 odd years I believe the answer is obvious.
Thanks
Jim Sanchez - Tucson Arizona