May 5, 2009
Dear Chairman Schapiro,
I am pleading with you to reinstate the uptick rule. I believe that left in place the short selling of stocks in the year 2008 would have saved my 401k retirement account. Since I have lost most of my life savings in the last 8 months, what I have read and learned is that major stockbrokers and holders of short selling made alot of money shorting the stock market last year. If left in place there would not have been so much money made from the stock market crashing in 2008 and the middle class like myself would not have lost a lifetime of savings.
Please reinstate this rule, and help the market keep moving upward the way it should.
Thank you,
Peter Gay