September 16, 2008
In the 21st century I would think that I shouldn't be allowed to sell something I didn't own, or may not even exist. Why are sellers allowed to sell stock that hasn't been identified as being available (and then allocated to them)?
What good reason was there for doing away with the uptick rule? It was placed in service after the 1929 crash and reduced volatility and fear. Look what has happened to out markets (especially targeted stocks) since it was repealed without even a public hearing. Please immediately reinstate.
Hedge funds should be required to disclose holdings and short positions like other funds. Any relationships with news organizations and the like should be disclosed. I'm sure other reforms are also needed but I'm not that informed.
After hours takedowns of stocks should be outlawed. Put an automatic stop to trading to all shares of stock who move a certain percentage or stop afterhours trading altogether (really the best). Make it a criminal offence to trade stocks back and forth to walk down(or up) stock prices.
Think about what manipulation is going on and make an example of someone. These profiteers are financial terrorists.
Pete