August 12, 2008
The SEC must quickly establich an "uptick" rule and clearly dis-allow naked short selling of all publicly traded stocks in order to restore credibility to the marketplace in America. For the SEC to not act is clearly leaving the door open to criminal types to destroy companies and investor assets as was witnessed by all in the Bear Stearns ordeal, and clearly witnessed in the extreme volatility of the market since the eliminination of the uptick rule in July 2007.
Why would anyone invest in American markets if the SEC allows open, unregulated, 1929 style short selling