May 11, 2009
The uptick rule should be reinstated. The trading practice know as "naked shorts" where an investor "borrows" stock that he/she does'nt own to write the short sell transaction should be banned. It is pure gambling and is being used in an abusive fashion to kill the stock prices of companies that do not appear to be in any financial trouble until the flim flam artists launch their digital short selling cyber attack on them. John Q. Public, aka the taxpayer, needs to be protected from these practices that have been allowed to take place because of the repeal of the uptick rule. John Q. Public is getting stuck with an astronomical increase in the national debt because of these short selling abuses.