September 19, 2008
SEC: Please consider eliminating short-selling forever. If people want to bet against equities, let them do so by withdrawing demand for that equity. Stock price should be determined by demand or lack of demand for an equity, not by being manipulated by large hedge funds that profit at the expense of the public and the public good.
Short selling is a market manipulating tool and is counterproductive to growing an economy. Short selling rules only allow profiteering to occur at the expense of our nation's businesses and people. Please eliminate this practice forever. I am sick of losing money to large hedge funds that manipulate the market. Don't tell me it doesn't happen. This is one member of the public that is more intelligent than that. Do your job and protect the investing public instead of empowering and enriching large private interests. Thank you. RL