May 8, 2009
Dear SEC
These changes (up-tick and naked short ban-enforced?) must be instated to limit the power of hedge funds and opportunists. The short traders (and naked shorts no less) do not and cannot contribute to the movement of capital to opportunities for creating wealth and a level playing field for small investors and stable capitalization of smaller public companies
The people who want to continue this atrocity are probably the same ones who securitized the sub prime loans and then shorted the financial institutions they knew who carried the toxic assets.
If these tools are permitted to remain instated as is, these predators will continue to de-stabilize the market, so the small investor or company stock holders and thinly capitalized public companies do not stand a chance.
I believe this is finance 101 and am surprised this is such a difficult heart-wrenching decision for the SEC.
Re-instate the up tick rule and end naked shorts and get on with it. Didnt Obama say Change was coming?