March 5, 2009
I simply do not understand why the SEC has not reinstituted the uptick rule. Your job is to protect honest investors from fraud and market manipulation. There is egregious market manipulation occurring with the shorting of stocks right now. And even if you do not agree with my assertion in the previous sentence, there was ABSOLUTELY NO REASON to abolish the uptick rule. It had been in place for more than 70 years and was clearly not hurting the market. I contend that the rule actually serves a vital purpose in protecting the market. I strongly urge you to put the rule back in place now. Your agency missed the Madoff scandal and you missed the Stanford scandal; now you are missing the damage created by your own agency. Please, please wake up and do your jobs.