April 3, 2009
The SEC has NO BUSINESS disrupting free markets, nor should the SEC be subject to undue pressure from politicians who have dubious motives that we often learn to be self-serving or outright corrupt.
I am opposed to the uptick rule. It is a feel-good rule that accomplishes nothing. It risks “no bid” conditions in the market where violent collapses can occur. Furthermore, every short seller is a future buyer, and bull rallies are build from short covering. I don’t need to explain all this to you – you already know all this – so why don’t you get in the face of the idiots in the House and Senate and educate them?
If you feel compelled to actually bring clarity and safety to the markets, why don’t you force some TRANSPARENCY upon the agents in this game.
Eliminate secondary “DARK” trading networks.
Force ALL TRADES into open markets.
NO UPTICK RULE!!!!