May 6, 2009
Thank you for accepting input on this matter from the public and individual investors. I believe that when the short selling rules were changed a few years ago that none of this financial mess was anticipated. However now that it has happened I do believe it is in our best interest to restore the previous regulations. I do not believe naked short selling should be allowed. If the SEC decides to allow naked short selling maybe they should only allow it on stocks selling over $10 or have a certain market cap. I just do not think it is right to be able to run a company down to the ground and out of business. I do understand that the argument can also be made about a stock going up based on rumors. However, that does not put a company and its employees out of business. You need to do what is in the best interest for the investors and the publicly traded companies not what is in the best interest for day traders.