September 16, 2008
Just because a regulation has been in place for a long time does not make it obsolete. Good men enacted an uptick rule because they saw and experienced that given the opportunity ordinary people will take advantage of lax regulation for profit. I understand that shorting is nessisary for orderly markets but why not enforce current rules with the same vengence that a short seller has for his target company. BUY THEM IN AND MAKE THEM BORROW THE STOCK THEY WANT TO TARGET BEFORE THEY SELLSHORT.