May 13, 2009
It is encouraging to see so many people on this site who would like to see a return of the uptick rule, enforcement of naked short selling rules, and investigations into leveraged ETF's but it is important for people to also contact their Congress people and Senators to let them know how they feel. This will hopefully bring additional pressure on the SEC to act properly.
You can bet that the SEC is being lobbied very hard by the hedge fund industry with their "so called experts" who will bend every piece of research to benefit their position at the expense of the rest of the country.
The SEC will also try to prove that they did not make a mistake when they eliminated the uptick rule and were completely "asleep at the controls" while the short sellers drove companies and our economy down so drastically. It is unbelievable to see how slowly the SEC is acting in this crisis.