May 14, 2009
-The abolishment of the uptick rule was nothing more than legalized thievery by the Bush administration. It was created for a reason. I have no doubt in my mind that Lehman Bros and Bear Stearns would still exist had the rule been left in place. Naked shorting has raped pension and 401K funds. The SEC, Christopher Cox and George W. Bush should be held liable and made to walk with the likes of Madoff.
I sincerely hope common sense will prevail and the reinstatement of not only the uptick rule but the Glass Steagall Act can be achieved ASAP.
K. A. LaFon