May 4, 2009
Please reinstate the uptick rule exactly as it was implemented in the Great Depression. Please also take aggressive action to prevent naked short selling.
I am a 54 year old private investor. After witnessing and feeling the harmful predatory effects of short selling in the stock market over the last 6 months or so, I currently do not feel safe investing further in stocks or making changes to the modest portfolio I already have. I don't understand how our government can stand by and let short sellers wreck the stock market and basically bet against the recovery of our economy and our country.
Don't overthink this or waste time considering arcane versions of the uptick rule. Just implement it as it was in the '30's. It worked well for 70 years.