May 4, 2009
SEC,
The practice of unimpeded short selling and naked short selling has destroyed this market and my confidence as an investor. The fact that a short selling rule had been in effect since after the great depression for 70 years and was removed only to lead to another near Great Depression should speak boldly and clearly. The SEC has caused great harm to the US and to the retail investors. If technology is so advacned such that a short selling rule is not required then, why are the short sellers against reinstating it?
Look I am in favor of re-instating the uptick rule. The SEC also needs to address naked short selling. It is laughable that the SEC will not even address this. I will write my congressmen in the State of Texas to add pressure to the SEC to re-instate this rule. It is a sham that it was ever removed.