May 5, 2009
Chaireperson Schapiro
Why are we even commenting on rule that is already on the books. Hasent it been illegal to Naked short sell since the last depression and the uptic rule? There is many exsamples of failer to deliver when selling short why have there been no prosecutions of these crooks.Is not there already an uptic rule? If not the uptic rule should be modified to our times and reinstated and naked short sellers put in jail for the theft they commited.
As a retail invester why is short selling even allow? I know the professionals are laughing thire rumps off on my question. But it is no laughing matter to loose retirement funds due to naked short selling. The uptic rule should be bought up to modern computer trading.
Fix it please to even the playing field a little for us small investors.