May 29, 2009
I have worked and saved all my life in order to be able to retire. I am a small investor with (now) way, way less than $100,000.00 invested in the stock market. I believe that the "uptick rule" should be reinstated to preclude greedy unscrupulus individuals from creating fear and panic in the market for the purpose of making a financial "killing" at the expense of people like me. If the people who decide on this rule being reimplemented or not, wish to continue the rape and plunder of the financial markets then don't reinstate the rule, or modify it for reinstatement. On the other hand, I think you have a responsibility to do the right thing then reinstate it. A friend of mine says that the stock market is just a ruse for the robbers and plunderers to steal small investors money and I am beginning to agree with him. I have come very close to being wiped out. I may have to come out of retirement and go back to work. The rule makers and high officials of the SEC can show their colors by what they do next.