May 29, 2009
If this were a popularity contest, the old uptick rule would be reinstated hands down.
Fortunately, this is not a popularity contest, and the SEC should do what is in the best interests of investors and the general public, which may mean not giving in to pupulist fervor.
No one can know whether the past two years would have been better or worse if the uptick rule had been in effect without an in-depth, scientific examination of the evidence. Just because the elimination of the uptick rule coincided with a market crash doesn't mean the elimination contributed to the crash as almost all of these comments assume.
People are hurting and they are searching for a scapegoat. The SEC needs to base its decision on facts and not on widely held assumptions.