May 26, 2009
I would like to submit my support for restoration of the uptick rule. The elimination of the rule 2 years ago has allowed market turmoil by the relentless shorting of many stocks, both justified but mostly unjustified, frequently by major institutions and hedge funds. A fair, regulated, ENFORCED rule allows for an orderly disciplined market that can accomodate both optimistic or pessimistic sentiment. The current market recovery does not change the fundamental flaws of the current system. This is a rule restoration whose time has returned. Its original institution during the Great Depression was for good reason, just as it is now.