May 6, 2009
It appears, since the previously existing "uptick rule" was eliminated two years ago, unfair abuses have taken place by entities specializing in aggressive short-selling. The old uptick-rule had apparently existed for nearly 80 years... for good reason.
I strongly feel that the "markets", as our government, are "for the people"...not large institutions and/or hedge-funds, having the power to manipulate market prices. Eliminating the uptick-rule was a huge mistake, catering to "the big guys". This must be corrected. These institutions and hedge-funds must not have the unfair power to "manipulate" market prices with their masssive short-sell and naked short-sell practices.
Put some real substance back into the "rules". Give some power back to individuals, who are simply trying to rebulid lost assests, brought about by this terrible recession and market crash. LEVEL THE PLAYING FIELD...PLEASE.