May 26, 2009
PLEASE re-instate the short-sale uptick rule and restore order and confidence to the markets. The short-sellers have "had their way" with the markets for years now, driving down the price of some stocks at will, without regard for the interests of the individual investor. The uptick rule was instituted to protect stocks from an unbridled assault on their share price, making it more difficult to unfairly drive the price down.
Isn't the purpose of the stock market to ACCUMULATE wealth and generate capital for the engine that drives the economy of our country? Short selling would seem to be the opposite of that, destroying wealth and capital, and people's 401K's and pensions plans along with it.
Robert A. Keller
A lifelong individual investor