May 29, 2009
Please do the right thing and help bring back market confidence for small investors like myself... RESTORE THE UPTICK RULE in its original form. Level the playing field for all investors, long, short, large and small. Do not water it down with amendments designed by those who want to neuter it. Fairness is a matter of perception, and as long as the private investor feels that they are being put at a disadvantage, the markets will suffer in the long run.
Send the message to those who are in for the fast buck, that it's folks like me who have invested their hard earned savings, who have risked their money in the market to support honest growth and profit...the greed of a few has been at our expense. This is not what our country or honest capitalism is about.
Also, please rigorously prosecute "naked short selling". This is another confidence destroyer. We need to see some high profile action, and send the message that this type of activity will not be tolerated by the Commission.
And finally, don't be dissuaded by those voices who claim that this is excessive regulation and meddling in the free market...even my kids know that for Monopoly (the Milton Bradley version) to work, there have to be rules