May 6, 2009
Please restore the original uptick rule without modications. The rule worked well for decades and is an important control to restore confidence in the markets.
Also create and enforce rules which ensure that actual shares are borrowed prior to selling short without exception. The ETFs should not be given any exception to this restriction. Please close any loopholes in this area. If this forces closure of certain ETFs, that specialize in shorting the market or market sectors, then so be it.
Both of these actions are critical to restoring confidence in the market by average citizens who rely on it for their retirement funds.