May 8, 2009
I am very angry about the uptick rule is not reinstated and naked shorting should be band. The rule was place there for a reason back then. Every thing was working fine, until that. Isn't there a saying,"If it works, don't mess with it". Having those rule was to stop the stockmarket from crashing down too fast, which it cause a ripple effect to Main Street. My 401k and IRA accounts has lost over 70%. My hard earned money down the drain. Am I going to be bailout for my retirement? Since the SEC allowed the uptick rule to be band and naked shorting was allowed, shouldn't it be the Government fault. Please reinstate the uptick rule and band the naked shorting.
P.S. Don't change the rule, leave it as it was before because you don't want to open another can of worm.
Thank you for saving my life.