September 17, 2008
Dear SEC...
Please bring back the 'Up-Tick' rule.
Haven't you seen enough? Hasn't the wholesale destruction of lives companies and equities, greatly exacerbated by the "SHORTS", brought you to your senses?
Can you comprehend the extent of the disaster that you at SEC are responsible for?
Your new religion to enforce your own rule against 'Naked Short-Selling' will only work if, and only if, the 'Up-Tick' rule is brought back. They worked well together for decades.
Can you not admit your error, bring back and enforce the two rules that helped the market function well. You've certainly helped the "SHORTS" more than they could've imagined.
Hadi Alavi