February 25, 2009
Hello Securities and Exchange Commission,
I am a simple, private citizen and have been financially devastated by, what I believe to be, bear raids or short sales by hedge funds against various securities that I have owned. I can’t understand why some of the financial rules that had been in place since the Great Depression, such as the uptick rule on short sales, have been reversed by the previous SEC administration.
For heaven’s sake, please reinstate some of the common sense provisions, such as the uptick rule, to protect the average, investor such as myself, from the financial piranha active in the market. I have come to the conclusion that the markets are “rigged” against the common person. Please prove me wrong.
Thank you for your consideration.