May 5, 2009
Dear SEC:
Please reinstate the Market-Wide, Permanent Approach of the proposed Uptick Rule. Anything else would be an SEC attempt to time or game the Market and would have little investors uncertain about the safety of their long-term investments.
Why? Everyone knows the SEC can't time the Market. A Permanent Approach offers stability that little investors need in good times and bad times.
If you want the "little guy" investing their 401K and their IRA cash in the stock market again, you had better make it friendly and welcoming. Otherwise we will put our cash in simple money market accounts, CD's and yes, under our mattress. This is our retirement money. Pensions are no longer and Social Security is uncertain. Do you really think the "little guy" is going to risk their cash again when we were swallowed by the short sellers last year?
The little guy may be little, but he isn't stupid. It is time for change. Please.
Sincerely,
Donna Ray