May 5, 2009
Given the perceived market manipulation with the allowance of 'naked shorts' to enable the exploitation of sharp short term moves in the market price of shares owing rumors, etc., the marketplace is now a 'casino' with the 'naked shorts' holding the cards. Not a place for the individual investor who is the bedrock to our financial and market system. With major players not having to follow the same rules of investing as the smaller players, an unequal playing field has developed. Thus confidence in the 'fair market' has been destroyed. Restore the Uptick Rule. Now we know what role it has played by leveling the playing field over the years. We have learned again at a high price to all non-shorting market participants.