April 26, 2009
In advance you should already know that most of Wall Street is going to recommend that you not reinstate the uptick rule or do anything that prohibits naked short selling.
This time maybe you should listen to main street. Just look at the VIX after July, 3 2007. The day the uptick rule was removed, volatility started to climb and the market started to dive. Naked short selling and the removal of the uptick rule has turned Wall Street into a casino Is that really what is good for America? C'mon use some common sense and put some brakes back into the system. Stop listening only to hedge fund - market manipulating- short sellers who benefit from this. Why are you letting the fox guard the chicken coop? Main Steet America is getting really steamed. Also, why you have not prosecuted hedge funds who have been using naked short selling along with option trading to manipulate the market is certainly a mystery to all You have always had the legal authority to prosecute any who manipulate the stock market.
What in heck are you folks smoking up there in the SEC?
T.L.