May 5, 2009
I appreciate the opportunity to voice my openion on this matter. I am a retiree who has lost over $1,500,000 during the past several years mostly on bank stock including AIG. This has hurt my standard of living and after looking into what made the market changes that took place, I am SURE that a lot of it had to do with "abusive short selling". I also believe that if the uptick rule were in place as it was several years ago, it would eliminate the problem in investor confidence and promote some needed stability in the market.
Please consider my recommendation since the current practices make the system very unfair. I also believe that there should be an investigation into what was going on and there should be legal action taken for those that abused the system.
Thanks,
Charles Paperth