May 5, 2009
We have trusted the SEC to protect the individual investor for many years. It was one of the Federal agencies that we thought would be free of influence and one that we could trust. Over the last few years, the SEC has lost that trust because of a number of missteps primarily due the appointment of unqualified political hacks and lawyers looking out for themselves rather than the public.
Although there have been a number of stupid decisions made by the SEC, the one that probably contributed the most to our economic downfall, besides our elected officials on the banking committees, is the removal of the up-tick rule.
Please do the correct thing and replace the very helpful, 70-year old up-tick rule to protect individual investors, again.