June 2, 2009
I believe the evidence supports the position that elimination of the uptick rule was one of the factors increasing the pace of short selling bear raids. This contibuted to the demise of some financial institutions causing unnecesary bankrupcies, market downside, instability in the financial system and loss of confidence in financial instruments. Please reinstitute this rule. The risk of reinstating the short selling uptick rule is much less than the risk of not reinstating it. To quote Spock "The needs of the many outway the needs of the few."