November 20, 2008
I am an investor that has watched the markets get absolutely decimated since the summer ended in '07.
Certainly economics plays into, but it is unfair, and frankly stupid, to not think government, government agencies, and their policies have contributed to the disaster as well.
Please, please, please bring back the "up-tick" rule. The study conducted by the SEC covered a time period that was historically less volatile than prior periods. Look at what has happened since the rule was struck down, and look what happens every single day during the last half hour of every trading day.
Please do not be so arrogant to not think this rule has not contributed to the problem. Bans on short selling are no good, brining back rules that made sense are.
Again, please bring back the "up-tick" rule.
Regards,
Mike Abraham
Rochester, NY