September 16, 2008
1 - The SEC should enact a temporary ban on ALL short selling and sale of stock market put options in US markets
2 - The SEC should temporarily halt trading in all short and ultrashort stock market ETFs
4 -The waiver on the uptick rule should be ended permanently
5 - The SEC should institute these changes immediately without any further warning for maximum impact
6 - The SEC should greatly tighten requirement for short selling from the current weak "reason to believe" regarding borrowing/delivery. There should be written proof provided that specific earmarked shares can be, or have been, borrowed.
7 - The SEC should go to the US government and request mandatory reporting of short selling activity in foreign markets and application of economic sanctions upon countries where significant abuses continue
It is high time to declare war on those -- who through abusive short selling in all its nefarious guises -- are ruining the US economy for their own private gain. If the SEC does not act upon this crisis within 24 hours, its Head should be replaced.
Thank you for allowing me to comment.