July 17, 2008
I would strongly urge the SEC to adopt the proposed rule changes closing the current "loopholes" concerning the "grandfather" clause and the options market maker exception. There is a preponderance of evidence that these loopholes are and have been badly abused. There is massive evidence that the resultant ILLEGAL naked shorting that takes place is extremely detrimental the companies that have come under attack. This was never the intent of short selling. I also cannot understand for the life of me why the uptick rule was changed. I have written both my Congressman and State Senators concerning these issues.
Mr. E. Lee Vander Heide