May 10, 2009
I believe reinstating the uptick rule is important to return fairness to the stock market. In the last year we have seen significant destruction of wealth of the average American through losses in all asset classes and especially in the stock market.
The near collapse of the financial system had many causes but there appears to be evidence that raids by investors shorting financial shares was completely out of control. Many changes to market controls are needed and the uptick rule is one step to add some control to the market. Without confidence in the stock market capital will dry up for this country and the economy will continue to falter.