November 5, 2008
I expect free market advocate Christopher Cox of Bush administration and one of the CNN'S 10 most responsible for the current finacial market turmoil to resign immediately now that Senator Obama is elected. SEC is yet to name the entity that prodded them to commission the short only on uptick rule study. Can SEC name other UNSOLICITED studies and rule changes?
Once Christopher Cox resigns we expect the New chairman to immediately reinstate the short only on Uptick rule of the depression era and list the number of shares shorted by marketmakers and investors on a daily basis. The new chairman is going to find calmness returning to the market after he/she brings about these changes.