March 25, 2009
Madam Commissioner,
Please reinstate the Uptick rule for the practice of short selling. While the practice of short selling can generate wealth, that eventually finds it's way into the economy for the betterment of more than the individually profited short seller; in general Short Selling (without the Uptick Rule) does not add value to a company. Reinstatement of the Uptick rule, will result in more accurate valuations of a companies stock than currently occurs. It is my belief that the lack of the Uptick Rule is one of the factors leading to the evaporation of trillions of dollars of wealth. And I doubt the the gains earned by aggressive short sellers compensate for the corresponding losses created by the practice of short selling.
Thank You,
Greg Bassett
Grants Pass, Oregon