May 5, 2009
Time has proven that the uptick rule has been good for the market and the small and medium investor. It has also proven that naked short selling is known manipulation of the market and a disruption to all investors that follow SEC and NASD rules. Big investors ignore the law and put the average investor at a great disadvantage. Let a small investor try to short and every rule must be followed to the letter of the law while hedge funds run roughshod over the system, pocket their illgotten gains, drive companies to near if not real bankrupycy and go on their merry way while the SEC looks the other way more than likely intentionaly. Let a small investor try it and fines and jail terms are likely.Come on SEC do your job and protect us from this and the obvious violation of the margin rules by the ETF's that create double and triple leverage with impudence. Large institutions that willingly loan stocks when they know rules are being violated so they and others can line their pockets with illgotten gains must be stopped also.