May 6, 2009
Please reinstate the "uptick rule" as it was before. It was in place for decades. It should have been kept in force. However, it was dropped. It would have "stopped" the recent "Bear Raids" and "Abusive Short Selling" that occurred several months ago. A legal investigation into improper or illegal short selling.
I lost significant money in my retirement portfolio and can not retire now. In addition, my entire financial future is in doubt because of these abusive short selling. These abusive short sales pounded down my stocks and portfolio ridiculously.
Do not pass any "waterdown version" of the "uptick rule." We need a strong rule that stops naked shorts.