May 4, 2009
I implore you to work to restore the exact "uptick"rule that were repealed two years ago.
It is UNCONSCIONABLE that perfectly sound enterprises and hard-working Americans' life savings have been destroyed so that banks, brokerages, hedge funds, and leveraged ETFs could make massive profits. We were led down this road with arguments that it was necessary to repeal the rule in order for us to compete with the EEU. This is rubbish. The ECB has proposed that similar rules be instated in Europe.
If this regulation isn't reinstated the American public may never trust Washington or Wall Street, again.
Many financial experts, in and out of academia, support the restoration of the original rules, not some watered-down version designed to "fake-out" the public interests.
For once, can't you put the American people first? We are the one's that are being asked to pay the bills to our broken financial system.
A copy of this comment has been sent to the White House.