May 9, 2009
I urge the SEC to reinstate the uptick rule. Unrestrained short-selling has caused enough destruction in our financial markets to the detriment of investors and non-investors alike. All Americans have paid the price for unbridled short-selling. By eliminating the uptick rule in 2007 and not policing illicit naked short-selling, the SEC has unwittingly permitted short-selling terrorism. America's enemies couldn't have been more effective in destroying our nation's wealth and capital base. We need the protection of the uptick rule, and its enforcement.