May 4, 2009
I am a retired 71 year old who is forced because of low bank rates, bond rates, and losses in my mutual funds to invest in individual stocks in the stock market for additional income. Primarily in solid companies that pay a dividend.
I must admit I am not an option player or a stock shorter.
However, I have seen what the people who short can do to a stock and issuing company. My guess would be large capital players such as hedge funds and mutual funds.
We don't need a watered down version of the up-tick rule.
Why was it repealed? The SEC commissioners of the previous administration were in my opinion remiss in their duties and oaths of office.
Believe me I don't want to have to be buying an individual stock. I simply don't have the volume of cash to live off of interest rates that are a result of the current economic environment. I am a prideful American who loves our country and ask for your help to represent me against people who's only goal in life is getting rich regardless of how it impacts our economy and market. Please help me by voting in a strong uptick set of rules.
Thanking you for your time in reading my opinions.